Upcoming wind, solar auction not to be affected by S&P downgrade on Brazil

Wind turbine. Author: PSNH. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

September 11 (SeeNews) - The recent downgrade of Brazil's credit rating by Standard & Poor's would not affect the upcoming wind and solar energy auction, said the president of the federal energy planning authority EPE, Mauricio Tolmasquim

The downgraded rating will not affect the auction.Thanks to the number of participants, the tender success is already guaranteed, the executive told local media on Thursday during a hearing at the Senate Infrastructure Services Committee.

EPE's president informed the price cap should be adjusted for other reasons such as the loan rates of the Brazilian Development Bank (BNDES), as well as the value of the dollar. With about 100% of the solar cells and between 35% to 40% of the parts of wind turbines being imported, the exchange rate is a bigger issue for the November 13 reserve energy auction.

Brazil's second reserve tender of the year has registered 38,917 MW in proposed capacity. The capacity comes from 1,379 projects, of which 730 are wind and 649 are solar, totaling 17,964 MW and 20,953 MWp, respectively.

More stories to explore
Share this story
About the author
Browse all articles from Lucas Morais

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.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription