1 Table of Contents 1 Table of Contents 2 1.1 List of Tables 7 1.2 List of Figures 8 2 Executive Summary 9 2.1 Government Support in Conjunction with Technology Development Driving Global Renewable Power Installations 9 2.2 Top 10 Countries Account for Over 84% of Wind Power Capacity 9 2.3 Large Hydro is the Dominant Source in the Power Mix 10 2.4 Abundant Renewable Resources could help Brazil to increase Renewable Capacity 11 3 Introduction 12 3.1 Carbon Emissions, Global, 2001-2015 12 3.2 Primary Energy Consumption, Global, 2001-2025 14 3.3 Wind Power Market, Global, Technology Definition and Classification 16 3.4 Wind Power Market, Technology Overview 16 3.5 Wind Power Market, Turbine Components 17 3.6 Report Guidance 19 4 Renewable Power Market, Global, 2006-2030 20 4.1 Renewable Power Market, Global, Overview 20 4.2 Renewable Power Market, Global, Installed Capacity, 2006-2030 22 4.2.1 Renewable Power Market, Global, Cumulative Installed Capacity by Source Type, 2006-2030 22 4.2.2 Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, 2015 and. 2030 24 4.2.3 Renewable Power Market, Global, Comparison among Various Sources, Cumulative Installed Capacity, 2015 - 2030 26 4.3 Renewable Power Market, Global, Power Generation, 2006-2030 28 4.3.1 Renewable Power Market, Global, Power Generation by Source Type, 2006-2030 28 4.3.2 Renewable Power Market, Global, Power Generation, Source Comparison Based on Power Generation, 2015-2030 30 4.4 Renewable Power Market, Global, LCOE Comparison of Power Generating Sources, 2014-2015 31 5 Wind Power Market, Global, 2006-2030 34 5.1 Wind Power Market, Global, Overview 34 5.2 Wind Power Market, Global, Installed Capacity, 2006-2030 34 5.2.1 Wind Power Market, Global, Installed Capacity Share by Region, 2015 and 2030 37 5.2.2 Wind Power Market, Global, Installed Capacity Share by Country, 2015 and 2030 39 5.2.3 Wind Power Market, Global, Installed Capacity Share by Segment, 2015 and 2030 40 5.3 Wind Power Market, Global, Power Generation, 2006-2030 42 5.3.1 Wind Power Market, Global, Generation Share by Region, 2015 and 2030 44 5.3.2 Wind Power Market, Global, Generation Share by Country, 2015 and 2030 46 5.3.3 Wind Power Market, Global, Generation Share by Segment, 2015 and 2030 48 6 Power Market, Brazil 49 6.1 Power Market, Brazil, Overview 49 6.2 Power Market, Brazil, Installed Capacity, 2006-2030 50 6.2.1 Power Market, Brazil, Cumulative Installed Capacity by Fuel Type, 2006-2030 50 6.2.2 Power Market, Brazil, Share in Cumulative Installed Capacity by Source Type, 2015 and 2030 53 6.3 Power Market, Brazil, Power Generation, 2006-2030 55 6.3.1 Power Market, Brazil, Power Generation by Fuel Type, 2006-2030 55 7 Renewable Power Market, Brazil, 2006-2030 57 7.1 Renewable Power Market, Brazil, Overview 57 7.2 Renewable Power Market, Brazil, Installed Capacity, 2006-2030 58 7.2.1 Renewable Power Market, Brazil, Cumulative Installed Capacity by Source Type, 2006-2030 58 7.2.2 Renewable Power Market, Brazil, Share in Cumulative Installed Capacity by Source Type, 2015 and 2030 61 7.3 Renewable Power Market, Brazil, Power Generation, 2006-2030 63 7.3.1 Renewable Power Market, Brazil, Power Generation by Source Type, 2006-2030 63 8 Wind Power Market, Brazil 66 8.1 Wind Power Market, Brazil, Overview 66 8.2 Wind Power Market, Brazil, Installed Capacity, 2006-2030 68 8.3 Wind Power Market, Brazil, Power Generation, 2006-2030 70 8.4 Wind Power Market, Brazil, Project Based Analysis, 2015 72 8.4.1 Wind Power Market, Brazil, Major Active Plants, 2015 72 8.4.2 Wind Power Market, Brazil, Upcoming Projects, 2015 73 8.4.3 Wind Power Market, Brazil, Key Under-construction Projects, 2015 74 8.5 Wind Power Market, Brazil, Investment Trends, 2015 75 8.5.1 Wind Power Market, Brazil, Deal Volume vs. Deal Value, 2006-2015 75 8.5.2 Wind Power Market, Brazil, Split by Deal Type, 2015 77 9 Power Market, Brazil, Regulatory Scenario 78 9.1 Overview 78 9.2 Program of Incentives for Alternative Electricity Sources 79 9.3 Renewable Energy Auctions 80 9.4 Alternative Energy Auction LFA-2010 and Reserve Energy Auction LER-2010 82 9.5 Brazil National Climate Change Plan 82 9.6 Luz para Todos Electrification Program 83 9.7 Financial Incentives and Policy Support for Wind, Brazil 83 9.8 Financial Incentives and Policy Support for Solar PV, Brazil 83 9.9 International Action Program, Brazil’s Hydropower Program 84 9.10 Incentives for Small Hydropower Facilities, Law 9648 84 9.11 Wind Turbine Component Tax Exemption (Executive Decree 656) 84 9.12 Inova Energia Program 84 9.13 National Biodiesel Program 85 9.14 Net Metering for Distributed Generation 85 9.15 Energy Expansion Plan 2010-2019 85 9.16 National Alcohol Program 86 9.17 Federal and State Taxes on Ethanol 86 9.18 Social Fuel Stamp Auction System 87 9.19 Ethanol Blending Mandate 88 9.20 Ethanol Export Tax Credit - Special Regime of Reinstatement of Tax Amounts for Exporting Companies - REINTEGRA 88 9.21 Spending on Biofuels 88 9.21.1 CT-PETRO program 88 9.21.2 CT-TRANSPORTE 89 9.21.3 CT-INFRA 89 9.21.4 CT-ENERG 89 9.21.5 CT-AGRO 89 9.21.6 CT-BIOTEC 89 9.21.7 Green-Yellow 89 9.21.8 Role of the National Development Bank of Brazil 90 9.22 National Energy Efficiency Policy 90 9.23 Regulated Investments in Energy Efficiency 90 9.24 The Energy Efficiency Law 91 9.25 Solar Water Heating Legislation 91 10 Wind Power Market, Brazil, Company Profiles 92 10.1 Company Snapshot: Renova Energia S.A. 92 10.1.1 Renova Energia S.A. - Company Overview 92 10.1.2 Renova Energia S.A. - Business Description 92 10.1.3 Renova Energia S.A. - SWOT Analysis 93 10.1.4 Renova Energia S.A. - Major Products and Services 96 10.1.5 Renova Energia S.A. - Head Office 97 10.2 Company Snapshot: Multiner S.A. 98 10.2.1 Multiner S.A. - Company Overview 98 10.2.2 Multiner S.A. - Major Products and Services 98 10.2.3 Multiner S.A. - Head Office 98 10.3 Company Snapshot: Energisa SA 99 10.3.1 Energisa SA - Company Overview 99 10.3.2 Energisa SA - Business Description 99 10.3.3 Energisa SA - SWOT Analysis 100 10.3.4 Energisa SA - Major Products and Services 103 10.3.5 Energisa SA - Head Office 103 10.4 Company Snapshot: ContourGlobal L.P. 104 10.4.1 ContourGlobal L.P. - Company Overview 104 10.4.2 ContourGlobal L.P. - Business Description 104 10.4.3 ContourGlobal L.P. - SWOT Analysis 105 10.4.4 ContourGlobal L.P. - Major Products and Services 109 10.4.5 ContourGlobal L.P. - Head Office 109 11 Appendix 110 11.1 Market Definitions 110 11.2 Abbreviations 111 11.3 Bibliography 111 11.4 Disclaimer 112

1.1 List of Tables Table 1: Carbon Dioxide Emissions from Energy Consumption, Global (MT), 2001-2015 14 Table 2: Primary Energy Consumption, Global (Mtoe), 2001-2025 16 Table 3: Renewable Power Market, Global, Cumulative Installed Capacity by Source Type (MW), 2006-2030 23 Table 4: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type (%), 2015 and. 2030 25 Table 5: Renewable Power Market, Global, Source Comparison Based on Installed Capacity, 2015-2030 27 Table 6: Renewable Power Market, Global, Power Generation by Source Type (GWh), 2006-2030 29 Table 7: Renewable Power Market, Global, Power Generation, Source Comparison Based on Power Generation, 2015-2030 31 Table 8: Renewable Power Market, Global, Assumptions for LCOE Calculation 31 Table 9: Renewable Power Market, Global, LCOE Comparison of Power-generating Sources ($/kWh), 2014-2015 33 Table 10: Wind Power Market, Global, Installed Capacity (MW), 2006-2030 36 Table 11: Wind Power Market, Global, Cumulative Installed Capacity Share by Region (%), 2015 and 2030 38 Table 12: Wind Power Market, Global, Cumulative Installed Capacity Share by Country (%), 2015 and 2030 40 Table 13: Wind Power Market, Global, Cumulative Installed Capacity Share by Segment (%), 2015 and 2030 41 Table 14: Wind Power Market, Global, Power Generation (GWh), 2006-2030 43 Table 15: Wind Power Market, Global, Generation Share by Region (%), 2015 and 2030 45 Table 16: Wind Power Market, Global, Generation Share by Country (%), 2015 and 2030 47 Table 17: Wind Power Market, Global, Generation Share by Segment (%), 2015 and 2030 48 Table 18: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type(MW), 2006-2030 52 Table 19: Power Market, Brazil, Cumulative Installed Capacity Split by Source Type (%), 2015-2030 54 Table 20: Power Market, Brazil, Power Generation by Fuel Type (GWh), 2006-2030 56 Table 21: Renewable Power Market, Brazil, Cumulative Installed Capacity by Source Type (MW), 2006-2030 60 Table 22: Renewable Power Market, Brazil, Share in Cumulative Installed Capacity by Source Type (%), 2015 and 2030 62 Table 23: Renewable Power Market, Brazil, Power Generation by Source Type (GWh), 2006-2030 65 Table 24: Wind Power Market, Brazil, Installed Capacity (MW), 2006-2030 69 Table 25: Wind Power Market, Brazil, Power Generation (GWh), 2006-2030 71 Table 26: Wind Power Market, Brazil, Major Active Plants, 2015 72 Table 27: Wind Power Market, Brazil, Upcoming Projects, 2015 73 Table 28: Wind Power Market, Brazil, Key Under-construction Projects, 2015 74 Table 29: Wind Power Market, Brazil, Deal Volume vs. Deal Value ($m), 2006-2015 76 Table 30: Wind Power Market, Brazil, Deals by Type, 2015 77 Table 31: Renewable Energy Auctions, Brazil, 2007-2015 81 Table 32: Biodiesel and Mineral Diesel, Brazil, Federal Taxes 88 Table 33: Renova Energia S.A., Major Products and Services 96 Table 34: Multiner S.A., Major Products and Services 98 Table 35: Energisa SA, Major Products and Services 103 Table 36: ContourGlobal L.P., Major Products and Services 109 Table 37: Abbreviations 111 1.2 List of Figures Figure 1: Wind Power Market, Global, Cumulative Installed Capacity Share by Country (%), 2015 10 Figure 2: Power Market, Brazil, Cumulative Installed Capacity by Type of Power Plant (%), 2015 11 Figure 3: Carbon-di-oxide Emissions from Energy Consumption, Global (MT), 2001-2015 13 Figure 4: Global, Primary Energy Consumption, Global (Mtoe), 2001-2025 15 Figure 5: Renewable Power Market, Global, Cumulative Installed Capacity by Source Type (MW), 2006-2030 22 Figure 6: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type (%), 2015 and. 2030 24 Figure 7: Renewable Power Market, Global, Comparison among Various Sources, Cumulative Installed Capacity, 2015-2030 26 Figure 8: Renewable Power Market, Global, Power Generation by Source Type (GWh), 2006-2030 28 Figure 9: Renewable Power Market, Global, Power Generation, Source Comparison Based on Power Generation, 2015-2030 30 Figure 10: Renewable Power Market, Global, LCOE Comparison of Power-generating Sources ($/kWh), 2014-2015 32 Figure 11: Wind Power Market, Global, Installed Capacity (MW), 2006-2030 35 Figure 12: Wind Power Market, Global, Cumulative Installed Capacity Share by Region (%), 2015 and 2030 37 Figure 13: Wind Power Market, Global, Cumulative Installed Capacity Share by Country (%), 2015 and 2030 39 Figure 14: Wind Power Market, Global, Cumulative Installed Capacity Share by Segment (%), 2015 and 2030 41 Figure 15: Wind Power Market, Global, Power Generation (GWh), 2006-2030 42 Figure 16: Wind Power Market, Global, Generation Share by Region (%), 2015 and 2030 44 Figure 17: Wind Power Market, Global, Generation Share by Country (%), 2015 and 2030 46 Figure 18: Wind Power Market, Global, Generation Share by Segment (%), 2015 and 2030 48 Figure 19: Power Market, Brazil, Cumulative Installed Capacity by Fuel Type(MW), 2006-2030 51 Figure 20: Power Market, Brazil, Cumulative Installed Capacity Split by Source Type (%), 2015-2030 53 Figure 21: Power Market, Brazil, Power Generation by Fuel Type (GWh), 2006-2030 55 Figure 22: Renewable Power Market, Brazil, Cumulative Installed Capacity by Source Type (MW), 2006-2030 59 Figure 23: Renewable Power Market, Brazil, Share in Cumulative Installed Capacity by Source Type (%), 2015 and 2030 61 Figure 24: Renewable Power Market, Brazil, Power Generation by Source Type (GWh), 2006-2030 64 Figure 25: Wind Power Market, Brazil, Installed Capacity (MW), 2006-2030 68 Figure 26: Wind Power Market, Brazil, Power Generation (GWh), 2006-2030 70 Figure 27: Wind Power Market, Brazil, Upcoming Projects, 2015 73 Figure 28: Wind Power Market, Brazil, Deal Volume vs. Deal Value ($m), 2006-2015 75 Figure 29: Wind Power Market, Brazil, Split by Deal Type (%), 2015 77

Renova Energia S.A. Multiner S.A. Energisa SA ContourGlobal L.P.