Brazil lifts the price cap for its November solar auction

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Brazil’s National Agency for Electrical Energy (ANEEL) announced on Wednesday that the maximum price for the solar auction this November has been set at 381 Reals per MWh (US$99/MWh).

This is higher than the maximum price of 349 Reals that was set for the solar auction held in August, under which the average price of awarded projects was 302 Reals. The Real has depreciated 40% versus this U.S. dollar over the last year.

For this next reserve auction, which will take place on the 13th of November, 20.953 GW of PV projects have pre-registered. This auction is open to participation from wind and solar projects.

This is the third auction in a special category for wind and solar projects at the national level in Brazil. Around 1 GW of projects were awarded in each previous auction.

Brazil recently doubled its solar goal to 7 GW in 2024.

Translation by Christian Roselund. The original article in Spanish can be read on the pv magazine LatinoAmérica website.