Brazil awards 674.5 MW in renewables auction, solar dominates

Solar panels. Featured Image: pornvit_v/Shutterstock.com

December 18 (Renewables Now) - Brazil awarded today more than 674.5 MW of renewable power supply contracts, the Power Trading Chamber (CCEE) announced.

With 25 winners, the tender secured contracts for some 39,113,822 MWh at a total price of BRL 5.65 billion (USD 1.72bn/EUR 1.46bn), or an average of BRL 144.51 per MWh.

Solar power was the biggest seller with 574 MW across 20 projects. The other sources performed below expectations. Wind and hydropower contracted two projects each, representing a total capacity of 64 MW and 11.5 MW, respectively. Biomass only negotiated a 25-MW project.

Overall, 1,676 renewable energy projects representing a combined capacity of around 47,965 MW, were registered and participated in the auction.

The tender negotiated contracts for specific volumes of electricity, awarding 30-year power purchase agreements (PPA) for hydro and 20-year PPAs for the remaining soruces. Power supply is scheduled to begin on January 1, 2021.

(BRL 1 = USD 0.305/EUR 0.258)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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