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Brazil denies schedule changes for 689 MW of solar projects

Brazil denies schedule changes for 689 MW of solar projects

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Brazil’s power sector regulator Aneel refused on Tuesday to allow changes to the implementation schedule for 688.91 MW of solar projects that won contracts in the 2014 reserve energy auction.

Aneel also denied a request by the project companies, among which Canadian Solar and Renova Energia, to postpone by two years the starting and termination supply dates established in the contracts negotiated in the tender.

The solar investors claim that their projects have been delayed by unpredictable changes in the Brazilian macroeconomic scenario. They say the depreciation of the local currency made it very expensive to import equipment, while local factories do not have enough capacity to supply the solar projects. Also, the inability to meet domestic content requirements of the Brazilian Development Bank (BNDES) has hurt the projects’ efforts to secure financing.

Aneel did not accept these arguments.

Details on the projects are available in the table below.

Projects Total capacity
Vazante 1, 2, 3 90 MW
Dracena 1, 2, 3, 4 120 MW
Gaimbe 1, 2, 3, 4, 5 150 MW
Massape 30 MW
Banabuiu 30 MW
Solar Caetite 1, 2, 3 89.91 MW
Inhare 1 30 MW
Coremas 1 30 MW
Caetite I, II, IV, V 119 MW

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Anand Gupta Editor - EQ Int'l Media Network

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