Brazil's Cemig confirms 4.8 GW of entrances for solar and also wind auction

Aug 16, 2021 03:44 PM ET
  • Brazilian energy firm Cemig has actually launched details of its latest public auction for solar and wind, with 4.8 GW of installed ability entering.
Brazil's Cemig confirms 4.8 GW of entrances for solar and also wind auction
Image: M.J. Ambriola/Flickr

The auction is scheduled for the 24 August, with champions to authorize contracts for the supply of energy to Cemig for durations in between January 2024 and December 2038.

These clean power auctions are a campaign by the company to preserve its leadership in the market, it stated, with a number of auctions having been held considering that 2018.

Cemig's wholesale energy acquisition as well as sale superintendent, Marcos Aurélio Alvarenga Pimentel Jr, claimed the rate of interest for this auction shows the firm's strategy of betting on this sort of agreement is "quite appropriate".

"We will certainly have excellent competitors from wind as well as solar energy projects situated in different areas of the nation," he stated.

It adheres to a stormy period for power auctions in the nation, with the renewable-only A-4 along with the A-6 auctions, the latter of which is open to renewables although not solely, postponed due to COVID-19.

Solar was enabled into the A-6 auctions for the first time in 2019, while the ordinary PV tariffs for the A-4 auction in 2019 of BRL67.48/ MWh (around US$ 17.5/ MWh) were described at the time as being the least expensive tariff ever accomplished by any type of power technology on the planet.

This was soon beat by Portugal's solar-only auction, which delivered an even lower EUR14.76/ MWh (US$ 16.44) one month later on.

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