In a strategic maneuver to align with burgeoning demands in Brazil’s energy sector, Prysmian, the Italian cablemaker giant, has announced a significant shakeup in its Latin American management structure. The company, eyeing the potential of offshore wind farms in Brazil, is realigning its resources to meet the rising need for cables critical for energy generation and transmission.
Raul Gil Boronat, previously at the helm of Prysmian in Brazil, assumed the role of CEO for Latin America earlier this year, underlining the company’s commitment to the region’s growing energy market. Stepping into Boronat’s shoes as the new head of Prysmian in Brazil is Emerson Tonon, formerly the vice president of operations for the region.
The management reshuffle coincides with Prysmian’s strategic investments in its industrial plants located in Espirito Santo state, aimed at scaling up cable production to cater to the demands of offshore wind farms. Boronat emphasized Prysmian’s readiness to meet the anticipated surge in demand for submarine cables crucial for offshore wind energy transmission.
“With the advent of offshore wind projects in Brazil, there’s an imminent need for a robust supply chain for cables, and Prysmian is gearing up to meet that demand,” Boronat affirmed in an interview with Reuters.
Prysmian’s proactive stance toward the burgeoning offshore wind sector in Brazil involves allocating a significant portion of its annual capital expenditure for the country toward plant enhancements. Tonon disclosed that approximately $5 million per annum will be invested to bolster capacity at two key plants in Espirito Santo state.
The burgeoning interest in offshore wind energy in Brazil has been underscored by the surge in applications for environmental licenses. The Brazilian environment protection agency, Ibama, has reported nearly 100 projects for offshore wind farms seeking regulatory approval, with a cumulative projected installed capacity of 234 gigawatts (GW).
However, the lack of a comprehensive regulatory framework poses a challenge to the swift progress of offshore wind projects in Brazil. Boronat emphasized the necessity for expediency and agility in regulatory processes to facilitate the development of offshore wind infrastructure.
“We urge for swifter concessions and auctions to streamline the advancement of offshore wind projects,” Boronat urged, highlighting the imperative of a conducive regulatory environment to unleash the full potential of Brazil’s offshore wind energy sector.
Prysmian’s strategic realignment underscores its proactive stance in harnessing the burgeoning opportunities presented by Brazil’s evolving energy landscape. With a concerted focus on offshore wind farm projects and bolstering cable production capacities, Prysmian is poised to play a pivotal role in shaping the future of renewable energy in Latin America’s largest economy.