Brazil's AES Tiete plans to enter auction with 150-MW PV project
Solar farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.
Brazilian power producer AES Tiete (BVMF:GETI4) intends to expand its energy business and enter one of the next reserve energy auctions with a 150-MW solar project.
The solar project is already in the licensing phase, generation director Italo Freitas Filho said while presenting the company's first-quarter results on Monday. The Ministry of Mines and Energy has scheduled for this year two reserve energy auctions, one for July 29 and one for October 28.
Aside from preparing for energy auctions, the company is also considering acquisition opportunities and a potential entry in the Brazilian free market, where it would be offering energy solutions, including solar distributed generation, to large industrial and commercial customers.
Brazil's free market permits consumers to buy power directly from generators or traders through bilateral contracts with freely negotiated conditions such as price, time, volume, etc.