While Spain, Sweden, Ukraine and Brazil attracted more funds than last year, China’s transition to an auction-based procurement system and slow performance overall in Europe saw worldwide backing decrease. BloombergNEF does expect investments to ramp up in the second half, however.
The developer has announced a major portfolio acquisition. London-based Lightsource says it has acquired 1.9 GW of solar generation capacity in various stages of development from Brazilian developer Enerlife.
Cracking the two-cent-mark as a global standard for PV appears within sight as projects in the U.S. and Brazil have been signed below that threshold. Just two years ago the industry celebrated sub-three-cent bids in the MENA region. Prices have come down so quickly, however, the new records are another third cheaper.
Brazilian energy agency the EPE has pre-qualified 1,829 renewable power projects with a combined capacity of 100.8 GW for the procurement exercise. The A-6 auction is expected to be the largest in terms of allocated capacity and to deliver lower bids than previous rounds.
As the solar industry digests yesterday’s announcement by Theresa May of a net zero carbon ambition by 2050, developer Solarcentury says Downing Street is hugely underestimating the role PV can play in achieving that milestone.
Rodrigo Sauaia, CEO of Brazilian solar energy association ABSOLAR, analyzes the chances of PV in this year’s two energy auctions in which it can compete. But it is not all about auctions, Sauaia tells pv magazine, there are 2 GW of solar projects under development for which bilateral PPAs may be signed, and hundreds of MW worth of such schemes that have already secured contracts.
Although only two of the nine projects selected in the auction are for hybrid biomass-solar power plants with some storage, seven will rely on renewable energy sources. The largest selected project, however, is a 123 MW gas power plant in the city of Boa Vista.
The tender is on June 28. This year’s procurement exercise may allocate less capacity than previous auctions, due to lower demand for contracting new projects.
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