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Brazil’s solar PPA market reaches 8.4 GW

According to a recent report from Brazilian consultancy Greener, unsubsidized solar projects are proliferating in the Latin American country. The study also reveals that the utility scale PV projects that are in an early or intermediate stage of development, have a combined capacity of 98.9 GW.

In Brazil, there are currently around 13.38 GW of unsubsidized solar power projects in an advanced stage of development that have already secured permits to start commercial operations, according to the report Utility Scale PV Market 2021 Brazil, released by Brazilian consultancy Greener.

“It is interesting to note that, in this project pipeline, there are at least 8.4 GW of projects that have also secured a power purchase agreement (PPA),” the CEO of Greener, Marcio Takata, told pv magazine.

Five projects, with capacities ranging from 600 MW to 1 GW, account for around 3.6 GW of the capacity under signed PPA.

The report also reveals that the utility scale PV projects that are in an early or intermediate stage of development have a combined capacity of 98.9 GW, and that around 47% of the authorized projects have a size of over 100 MW.

Furthermore, Greener analysts said that bifacial modules are becoming the new standard for new projects, with a market share of around 54%. As for the inverters, they stressed that string devices should see their share increase from just 10% in 2020 to 38% this year.

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The report also analyzes the development of the projects being planned, developed, or built under the country’s auction scheme in the so-called “regulated market” and recalls that the two procurement exercises planned for 2020 were canceled due to the Covid-19 crisis. This year, however, the Brazilian authorities should hold four auctions, all of which are expected to include solar among the competing sources.

Projects contracted in the regulated market have so far reached a combined capacity of 4.6 GW and around 66% of them are already operational.

The report also provides data on module and inverter suppliers, as well as a model to structure PPAs in the Brazilian market.

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Source: pv magazine