Weak Wind, Solar Sales at Brazil’s First 2019 Energy Auction

Minimal demand amid sluggish economic growth resulted in weak sales of future wind and solar power at Brazil’s first energy auction this year.

At the June 28 auction, developers of renewable energy—wind, solar, hydro, and biomass—were awarded 20-to-30-year contracts and must begin supplying power to distributors who buy it by Jan. 1, 2023.

At the auctions, the government sets a maximum price for each type of power offered. Developers bid down the amount for which they’re willing to sell power, with the lowest offers winning contracts.

Developers sold 203.7 megawatts (MW) of future solar power for 67.48 reais ($17.39) per ...