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Brazil's first national solar auctions prove a success

Ftirt published on the Cleantech Investor website, November 2014

The first dedicated solar auction took place in Brazil on 31 October 2014. The auction was – on the face of it – a great success, awarding contracts to 31 projects with combined capacity of 1,048 MW. The average price contracted in the October 2014 auction was R$21512 / MW hour, a 17.9% discount on the auction opening price of R$262.22 / MW hour.

The race is now on for manufacturers to deliver equipment (preferably locally manufactured in order for the project developers to benefit from favourable financing from the local development bank, BNDES) on time to these 31 projects, which must start to deliver energy to the grid by October 2017. There are discussions on bridge financing from private sector banks.

 
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