Winning projects in Brazil’s latest solar auction require BRL4.3 billion investment
The cost of the 31 PV projects selected in Brazil’s 1st Energy Reserve Auction in August ranges between BRL3.1 million (US$798,000) and BRL5.1 million per MW installed, according to a document released by Brazil’s energy agency EPE.
EPE said this means the projects will require a cumulative investment of BRL4.3 billion (US$1.1 billion).
Projects with fixed tilt structures will have an average cost of BRL3.57 million per MW, while those with tracking systems have an average cost of BRL4.16 million per MW.
EPE said the figures are taken from data provided by the project developers themselves. They do not take into account interest during the construction phase, and, as they are based on December last year, they do not reflect the recent rise of the US dollar.
The energy agency selected 341 solar projects with a combined capacity of 11.26GW to compete at the 1st Energy Reserve Auction held on 28 August. A total of 31 projects totalling 833MW capacity were successful. The average price in this round of bidding was around BRL301.79/MWh.
Projects are to be developed in the folowing states:
Bahia 325 MW
Minas Gerais 150MW
Contractors are expected to begin supplying electricity to the Brazilian grid under 20-year PPAs by 1 August 2017.
Last week, Brazil’s energy regulator ANEEL set the cap price for PV projects at BRL381/MWh for the next reserve energy auction to be held on 13 November. This was higher than the price cap for the recent auction in August, which was set at BRL349/MWh. EPE has selected 649 PV projects for the November auction.
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