Brazil auctions 769MW of wind

BRAZIL: Brazil's National Electric Energy Agency has agreed to 31 new wind projects totaling 769MW in the country's sixth energy reserve auction.

Brazil's reserve auction sold 769MW in wind projects

The average price of contracts was BRL 142.34/MWh ($57.4/MWh), 1.5% below the BRL 144/MWh limit set by the government.

In July, wind developers submitted 626 applications for projects in the auction, totalling 15.4GW. Wind projects made up 58% of the proposals.

The auction aims to provide energy security by creating a reserve capacity behind the expected growth in demand. Th expected demand is met with standard auctions.

Solar power dominated the auction, with contracts totalling 890MW agreed.

Projects will be expected to begin producing energy by 1 October 2017.