Canadian Solar wins 364 MW of 1 GW awarded in A-4 auction in Brazil
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Canadian Solar Inc. has announced that it won three solar photovoltaic (PV) projects in Brazil's A-4 auction that was held on 4 April 2018. The projects have with a total installed capacity of 364 MWp.
The three projects, located in the states of Minas Gerais and Ceara, have been awarded 20-year power purchase agreements (PPAs) with an average price of BRL118.15 (US$35.58) per MWh. Once connected to the grid, the plants will generate approximately 706,056 MWh of electricity every year. Canadian Solar will develop and build the projects, aiming to bring them to commercial operation by 2022.
Following the auction, Brazil's Power Trading Chamber (CCEE) announced that 1,024.5 MW of clean power supply contracts had been awarded to solar, wind, biomass and hydropower projects, with a total value of BRL6.75 billion (US$1.97 billion).
Successful bidders received 30-year PPAs for hydropower projects and 20-year PPAs for projects depending on other renewable sources at an average price of BRL124.75 (US$36.4) per MWh.
Solar power was the biggest seller of the auction with over 806.6 MW awarded across 29 projects. Though, Canadian Solar's three projects take up almost half of that capacity, indicating that the remaining 26 projects are not very big in terms of generation capacity.
This award makes Canadian Solar the only company to have won projects in all of the five Federal Auctions held to date in Brazil. The firm has delivered a 55.5% reduction in energy prices from the first auction, accelerating the adoption of solar energy in the country.
EDF Energies Nouvelles has also announced its success in the A-4 auction. The company won a 20-year PPA for a 114 MW wind project to be located in Bahia, a state in the north-east. Once operational, the wind farm will produce enough power to supply around 290,000 local homes per year through an off-take deal to be signed with 17 electricity distribution companies.
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