CONTENT PAID FOR BY MINAS GERAIS GOVERNMENT
Minas Gerais: a beacon for global investment
Minas Gerais has reached almost 10GW of installed solar energy capacity and surpasses more than 150 countries in solar energy
T he state of Minas Gerais has been breaking record after record in attracting private investments from many different countries around the world. One of the factors behind this success is the management model adopted by the state government, which is focused on responsible development and guided by serious and effective administration, and good ESG practices, with the ultimate goal of prosperity and improvement in the quality of life of its inhabitants. In recent years, Minas Gerais has attracted, on average, investments of around R$80 billion annually (US$14.66 billion). These are record amounts that demonstrate an ever-increasing interest in a place that has so much to offer. One of its main policies that has contributed to this is the incentive for clean energy sources. The state currently has the largest reserve of niobium in the world and the largest reserve of lithium in Brazil, which is why the successful Vale do Lítio (Lithium Valley) project was created. This project has been attracting billions’ worth of investments, which boost not
853 municipalities in Minas Gerais have at least one photovoltaic solar energy generation unit. The goal is to achieve zero net greenhouse gas emissions by 2050. With such great effort and planning for responsible development, Minas Gerais has reached almost 10GW in solar energy generation, surpassing more than 150 countries. Furthermore, 99.5% of the electricity produced in the state comes from renewable sources. And Companhia Energética de Minas Gerais (Minas Gerais Energy Company) has also been doing its part, by investing more than R$50 billion (US$9.16 billion) in 10 years (2019–2028). increasingly attractive and economically diversified does not stop there. Minas Gerais is the country’s leader in coffee, milk and potato production, and the state government, in partnership with Banco de Desenvolvimento de Minas Gerais (Minas Gerais Development Bank), has given a further boost by announcing R$1.4 billion (US$256.7 The work of the Minas Gerais government in making the state
Record-breaking investments and sustainable development are driving prosperity in Minas Gerais
only Minas Gerais’ revenue, benefiting the state’s most needy regions, but also its economic development. It is also worthwhile to highlight the state’s intense work in the photovoltaic solar sector, led by the Sol de Minas (Minas Gerais Sun) project. With its implementation, Minas Gerais has become a leader in the sector and a national reference in adopting solar energy systems that power homes, businesses, industries and rural premises. Today, 100% of the
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G20 BRAZIL: THE RIO SUMMIT — 2024
globalgovernanceproject.org
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