Brazil's far-left President Luiz Inacio Lula da Silva has signed into law a bill authorising the development of offshore wind farms, a statement said late on Friday, an effort 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. Almost all offshore wind projects require some sort of subsidy.
The Brazilian government said the law provides guidelines for projects and restoration of explored areas, in addition to requiring prior consultations with affected communities to ensure, "respect for traditional maritime practices and local culture."
More than 80 per cent of Brazil's electricity comes from renewable sources, mainly hydroelectric, according to government data.
The president vetoed provisions in the law, introduced during the congressional debate, which would maintain incentives for, "more polluting, expensive and inefficient energy sources such as thermoelectric, coal and gas plants," the statement said.
(Reporting by Ana Mano and Letícia Fucuchima; Editing by Conor Humphries)