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Brazil okays construction of 1.5 GW from Aug 31 tender

Wind park in Brazil. Author: Fotos GOVBA. License: Creative Commons, Attribution 2.0 Generic

February 18 (Renewables Now) - The Brazilian Minister of Mines and Energy, Bento Albuquerque, announced last week that the construction licenses for 1,572 MW of green projects secured during the August 31, 2018 energy auction have been signed.

In all, the government has so far approved the construction of 53 projects, which represent BRL 6.8 billion (USD 1.8bn/EUR 1.6bn) of investments and more than 8,000 direct jobs. Of the okayed projects, 44 correspond to wind power generation, seven are hydropower generation schemes, one uses natural gas and one uses biomass, the ministry announced on Friday.

With a 30-year power purchase agreements (PPA) for hydro, 25 year for thermal power and 20 for wind, these projects are estimated to help Brazilian consumers save around BRL 20.8 billion during the supply period. The auction projectshave to be operational in January 2024, the ministry added.

(BRL 1 = USD 0.27/EUR 0.24)

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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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