Enel wins 240 MW of solar in Brazilian auction

The Brazilian green power unit of Italian energy major Enel SpA (BIT:ENEL) has won 240 MW of solar capacity in Brazil’s latest A-4 public tender, it announced on Monday.

Enel Green Power Brasil Participacoes Ltda (EGPB) was awarded the right to sign 20-year power supply contracts for the Sao Goncalo solar photovoltaic (PV) project in Piaui, whose capacity in direct current (DC) reaches 388 MW.

“The 388 MW we have just been assigned is the beginning of a new wave of investments of our group in Brazil,” said Antonio Cammisecra, head of Enel Green Power. The company estimates it will need to invest nearly USD 355 million (EUR 301m) in the construction of the plant. Completion is seen in early 2021.

The award equals 49% of the 791 MW DC of PV capacity offered in the tender.

The auction was organised by the Brazilian federal government via the country’s energy regulator ANEEL. Through it, the state awarded more than 674.5 MW of renewable power supply contracts, including 574 MW of solar deals. A total of 25 projects 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.

(USD 1.0 = EUR 0.847)

(BRL 1 = USD 0.305/EUR 0.258)

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