Brazil signs law authorising offshore wind development

A wind turbine used to generate electricity is seen in the coastal of the city of Fortaleza, Brazil, April 26, 2017. REUTERS/Paulo Whitaker/File Photo

SAO PAULO: Brazilian President Luiz Inacio Lula da Silva has signed into law a bill authorising the development of offshore wind farms, in a bid to strengthen the country’s energy security and spark a wave of investment.

The new law foresees incentives for the development of offshore energy projects in Brazilian territorial waters, the statement said late last Friday.