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The Brazilian government announced to hold an auction for 382 PV projects, totaling 12.528GW capacity, on August 14th. The total capacity would exceed the 11GW hydro power plant, Belo Monte, being built.
PV Tech reports the country’s Energy Research Company (EPE) has accredited 382 PV projects, totaling 12.528GW, last week ahead of the tender process taking place on August 14.
Such volume of bids will be good for consumers as it means the award process is likely to be highly competitive, EPE quoted its president. Last October, Brazil held the first ever PV-only auction. The projects awarded in the process hit a low price of US$215 per MWh on average, leading to the deployment of 31 solar power plants that cumulatively installed near to 890MW of capacity.
In the latest round of solar projects auction, EPE expected to see most project proposals for the north-eastern region of Brazil, where enjoys the highest levels of solar irradiance in the country.
An analyst at EenrgyTrend commented on how long the 12.5GW of projects will take to complete. “In my opinion, 2GW per year is reasonable for Brazil,” said the analyst. “Generally, such kind of plans is designed as a five-year program, so I expect these bids will be completely built by, around, 2020.”
EnergyTrend has expected an improvement in emerging markets like MENA and Latin America in its global PV market trend research for 2015. In the Latin American region, Brazil and Chile were projected to be leaders of the PV market boom. The trend is also revealed by some world-leading company’s moves. In November 2014, SunEdison decided to partner with Renova Energia for developing 1GW of solar facility in Brazil. Furthermore, BYD recently announced to establish a 400MW solar factory in the country. Brazil’s solar boom is predicable through international company’s developing strategies and the government’s promotions.
(Photo Credit: be_lie_ve via Flickr)