The 6th Reserve Energy Auction, conducted by the Brazilian National Electric Energy Agency (ANEEL) and operated by the Electricity Trading Chamber (CCEE) was said to have generated intense bidding from a massive oversubscription.
After the longest auction Brazil has undertaken, 31 out of 400 PV project opportunities totalling 889.7MW were granted approval at providing electricity at the fixed price of US$86.78/MWh for 20 years, beginning on October 1, 2017.
CCEE had originally placed an aggressively low ceiling price for PV of US$105.69/MWh, but interest in the Energy Auction Reserve was significant with only one obvious outcome, a significant 17.9% discount to the ceiling price.
CCEE noted that the state of Bahia had the most projects, without providing further details. The remaining projects approved were spread over the states of São Paulo, Rio Grande do Norte, Ceará, Minas Gerais, Pernambuco, Piauí and Goiás.
Apparently, 1,034 enterprises registered interest in participating in the auction with a total supply of 26,297MW of installed capacity being offered.
The auction was previously touted to potentially generate 500MW of awarded PV projects.