BMI View: With plenty of monetary and fiscal ammunition to weather a global growth slowdown and
continually strong demand for Brazil's commodities, the medium-term economic outlook in the country is
one of above-trend growth. This considered, we reiterate our view that Brazil will remain a very
attractive power market relative to its peers. Most notably, we believe that Brazil's wind industry looks
set to continue where it left off in 2011, with many regional and global players looking to capitalise on a
booming market. Furthermore, with Brazil's plans to build four new nuclear power plants likely to be
resumed by the government in 2012 after a delay of around 18 months, the nuclear sector is also likely to
attract growing interest.