A report by the Global Wind Energy Council (GWEC), and the Brazilian Wind Energy Association (ABEEolica), in partnership with the Renewable Energy Efficiency Partnership (REEEP) forecasts that Brazilian wind power deployment will exceed 5 GW by 2013. Brazil currently has installed capacity of 1.12 GW in 57 wind farms. A series of energy auctions have contracted 5.2 GW of projects which will take total installed capacity to 7.2 GW by 2014 and will attract over US$12 billion in investment. The report was launched at the opening ceremony for Brazil Wind Power in Rio de Janeiro on 31 August.