Brazilian President Luiz Inácio Lula da Silva has signed a decree designed to strengthen the country’s renewable energy sector by widening tax incentives for solar and wind projects. The move is part of a broader effort to make clean energy development more attractive to domestic and foreign investors.

According to the Reuters report, the government hopes the policy will help bring in about $15 billion in new investment by 2030. Officials are presenting the decree as a tool to speed up the buildout of cleaner power capacity while supporting economic growth.

The measure adds to Brazil’s push to position itself as a major player in the global energy transition. By lowering costs for developers, the administration aims to encourage more large-scale projects and improve the financing outlook for renewable infrastructure.

The decree comes as countries across Latin America compete for capital in the fast-growing clean energy market. For Brazil, the success of the policy will likely depend on whether incentives are strong enough to draw long-term investment and translate government targets into actual projects.