First published on the Cleantech Investor website, 21 September 2011
The Brazilian wind energy auctions were recognized as the Landmark Renewable Deal of the Year at the 2011 Euromoney Renewable Energy Finance Awards last night. Brazil has held a series of energy auctions, including dedicated wind energy auctions. This year it held an auction in which wind competed head to head against fossil fuels – resulting in wind energy being contracted at prices below those for natural gas.
The award, which was received on behalf of Brazil by Daniel Costa Fernandes, the head of the commercial section of the Brazilian Embassy in London, recognizes deals with what is described as the ‘wow’ factor. The award was presented by Jamie Fergusson of IFC who commented that the deals nominated “continue to prove that over time renewable energy can evolve into a market that shows cohesion and strength through its ability to innovate, challenge and persevere”. Other deals nominated included the Shepards Flat offshore wind farm financing and funding rounds by BrightSource and Next Era.
The awards ceremony took place at a cocktail reception following the first day of the annual Renewable Energy Finance Forum in London. Delegates voted at the event for the Landmark Deal category – and the Brazilian auction system won by a large margin. Other deals nominated included the Shepards Flat offshore wind farm financing and funding rounds by BrightSource and Next Era. The landmark deal was awarded to the Crown Estate for the Pentland Firth tidal energy round last year.