Global downstream PV player Conergy has emerged as another winner in Brazil’s latest national renewable energy auction, securing 60MW of capacity.
The win encompasses two separate projects, which Conergy will build in the north-eastern state of Paraiba.
Brazil has become a highly competitive market, with only 833MW of a total 11.3GW of short-listed projects succeeding in the auction.
Pricing has become tight as a result, and the average in the latest round of bidding was around BRL301.79/MWh (around US$83), below the price ceiling set in the auction of BRL340 and down on the US$86.78/MWh price set a national auction last October, in which 889.7MW of PV capacity was awarded.
Conergy said it had secured its two 20-year power purchase agreements at a price of US$82.57/MWh. The lowest bid price in the auction was BRL296, just under US$80/MWh. A full list of projects in the latest auction has now been released by Brazil’s energy agency, EPE.
“Brazil’s auction was one of the most competitive in the world,” said Eduardo Abreu, Conergy's general manager in Brazil. “Of bids totaling 11,200MWp, only 833 MWp were approved, making Conergy’s projects among the top 7.5%. The team’s technical expertise enabled efficient site selection and project design gave the company a competitive advantage during the auction.”
The projects are Conergy’s first at a utility scale in Brazil, which the company said it had now made a priority focus.
“In the past ten years, Brazil has cut its carbon emissions by 41%,” said Andrew de Pass, CEO of Conergy, “Conergy is excited to enter Brazil's emerging and fast-growth solar market to grow our global footprint and further our company’s mission to preserve the planet and power the world.”
Conergy is set to begin construction of its two projects in the first quarter of 2017 for interconnection in August 2017.