05/18/2016 14h07

China's Envision Energy sees potential to invest $1.2bn in Brazil

valor international

Envision Energy, China’s second largest wind energy company, has placed Brazil on its radar for investments amid the expectation of a more positive business environment in the country. "Maybe it’s time to invest now, with the change of government," said Felix Zhang, Envision executive director, in an interview with Valor. The executive sees a "huge potential" to invest in production equipment in Brazil, and is now waiting for "the situation to stabilize". The company has not yet defined the amount to be invested, but gives an estimate: “If our investment plan in Mexico is $600 million in a few years, Brazil could have at least twice [the amount] as it’s the largest market for renewable energy in Latin America," Mr. Zhang said.