Brazil

The Brazilian Government has approved a decree to introduce an auction system to cancel power contracts awarded in the reserve energy auctions (leilão de reserva). Through these auctions, held between 2014 and 2015, several large-scale PV projects were commissioned.

Projects selected in an upcoming auction will have access to a financing scheme of the Climate Fund (Fundo Clima) managed by BNDES

Brookfield has agreed to acquire a 51% stake in yieldco TerraForm Power and plans to become the company’s sponsor, as well as acquiring TerraForm Global outright.

The Chinese-Canadian company has secured $20 million in funds to support the construction of a 191 MW PV plant in Brazil.

The Chinese module maker has signed an agreement to set up a solar module manufacturing facility in Brazil. The local government hopes the new factory will attract more investments.

Installations are increasing under net metering. Last year 45 MW was added under the program.

The move is a step toward regaining regulatory compliance, in advance of a potential purchase by Brookfield.

The regional initiative is expected to boost the solar PV and thermal solar installations in the state.

The company has commenced installation of its SF Utility tracking system at the project, with which it will reach 450 MW of installed capacity in Brazil.

The combined capacity of all of the solar installations on net metering in Brazil stands at 57.6 MW.