Dec 9, 2011 - Brazilian renewable energy developer Renova Energia (SAO:RNEW11) said yesterday it did not deposit guarantees for its 10 projects qualified for the A-5 auction scheduled for December 20 since it decided to stay out of the tender.
Renova explained that it commercialised 613 MW of new wind power capacity in the last five months, of which 213 MW on the regulated market and 400 MW on the free market, and thus no further contracting is needed. The company will now focus its efforts on the construction of wind plants. However, the 10 projects, with a combined capacity of 211 MW, continue to be part of Renova's portfolio and their output will be offered in the next power auctions or on the free market, the firm said.
A total 231 projects, with an installed capacity of 6,286 MW, were filed for A-5. The wind power projects are 205, with an installed capacity of 5,149 MW. The auction will offer 30-year contracts for the sale of hydropower and 20-year contracts for other energy sources, with delivery of electricity starting in January 2016.