46 percent of Brazilian energy now from renewables, BBC reports

In Brazil, 46 percent of domestic energy is now coming from renewable sources, compared to a global average of 13 percent, according to a report from the BBC. But the Beeb reports that Brazil, facing difficulty in the approval of hydro projects, may increase its share of energy generated by fossil fuel-based electricity production from 10 percent today to 17 percent.

Meanwhile, the price tag for unlocking a massive oil strike off the Brazilian southeast coast has been pegged at $1 trillion and will be viable only if oil is above $40 per barrel. The Beeb said that Brazil;s overall energy consumption is set to rise 33 percent per year, as an average, with production expected to rise by 4.2 percent, making Brazil potentially a key energy exporter in the mid-term with ethanol production growth a key to realizing large-scale energy export income.

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