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Enel Green Wins Big In Brazil’s Public Solar Tender

Enel Green Power has been awarded 553 MW of new solar PV capacity in Brazil’s landmark Leilão de Reserva public solar tender.

Held on August 28, the Leilão de Reserva public solar tender was the country’s second reverse auction for solar power plant projects, and awarded a total of 834 MW of solar power plant capacity at an average price of 301.79 Real per megawatt-hour, or around US$0.0842/kWh.

Given Enel Green Power’s already prominent position in-country, it is unsurprising therefore that it walked away with more than any other participant in the auction, with 20-year energy supply contracts for three separate projects amounting to 553 MW. Enel Green Power was awarded with energy supply contracts for its 103 MW Horizonte MP, 158 MW Lapa, and 292 MW Nova Olinda projects, which makes the company the top solar market player in Brazil.

Enel Green-2Enel Green Power already has the operational 11 MW Fontes Solar I and II — the country’s largest solar PV complex currently in operation — as well as a further 254 MW awarded to them in November, 2014, for the construction of the Ituverava solar project.

“We are extremely pleased about this landmark win, thanks to which we became the number one company in the Brazilian solar industry” said Enel Green Power’s CEO, Francesco Venturini. “The 818 MW of total capacity won in all photovoltaic auctions launched in Brazil so far, the 700 MW won in wind power auctions and 102 MW won in hydropower auctions in the country since 2010 all offer further validation of our Latin America growth strategy, the strength of which is based on our focus on technologies that are approaching or are at grid parity, developing and delivering innovative solutions and extracting synergies with other Enel Group companies in the region.”

Enel Green Power also revealed that it would be investing approximately $600 million into the construction of the three newly-awarded solar power projects, which it believes will be completed and operational by 2017. Upon completion, the three projects are expected to generate approximately 1.2 TWh of electricity, provided under 20-year supply contracts.

Image Credit: Fontes Solar I and II via Enel Green Power

 

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