Eletrobras

Eletrobras has very high baseload capacity due to its 46 GW of large hydro and its soon to increase nuclear capacity. As such it is better placed to incorporate higher levels of variable renewables than most other electric utilities. However, Eletrobras continues to develop and run small amounts of fossil fuel baseload capacity and has no plans to increase wind and solar capacity. The company has an opportunity to remove fossil fuels from its portfolio completely. Eletrobras could look to other large hydro companies who are planning significant floating solar capacity.

Although Eletrobras has a transition plan, there is room for the company to significantly enhance the detail. Eletrobras forecasts its capacity mix out to 2030 where it foresees a potentially significant drop in hydro capacity while fossil capacity and other renewables do not change. This means that emissions intensity is likely to increase. Eletrobras’ current status as a low-carbon operator is not sufficient reason for the lack of detail and concrete actions and targets which are needed to drive the full transition of the company.

Eletrobras has few commitments, and its targets are short term in nature and lack the ambition to drive significant reductions in the remaining emissions from its small amount of gas and coal capacity.

97% of Eletrobras’ capacity is low-carbon. The company has a transition plan but it only extends to 2025 and has little information on climate and sustainability.

Eletrobras’ 2020 to 2035 strategy contains little specific climate action. Eletrobras is focussed on delivering additional nuclear capacity but has little in the way of plans for variable renewables such as wind and solar which would complement its high baseload hydro capacity.

Eletrobras has closed four of its five coal plants but still has a large number of small oil and gas plants with no plans to retire them in the short term. It has reduced emissions by 59% since 2015, a higher rate than required by its 1.5°C company pathway.

Eletrobras is well positioned to completely decarbonise its electricity generation but maintains a large number of small oil and gas plants. Its lack of meaningful climate transition plan and targets for its remaining emissions is inconsistent for one of the lowest carbon companies in the sector.