Home 2. TOPIC Solar in LATAM: Brazil’s installed solar capacity seen jumping 325% by end-2017

Solar in LATAM: Brazil’s installed solar capacity seen jumping 325% by end-2017

Solar in LATAM: Brazil’s installed solar capacity seen jumping 325% by end-2017
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The Brazilian Association of Photovoltaic Solar Energy (Absolar) projects that the country will end 2017 with 1 GW of installed solar PV power generating capacity, a 325% surge from the current 235 MW.

The overvall solar investments through the end of the year are estimated at up to BRL 4.5 billion (USD 1.3bn/EUR 1.2bn). At the moment, Brazil’s solar capacity is enough to meet the consumption of 60,000 homes.

According to the president of Absolar, Rodrigo Sauaia, the solar industry was not impacted by the economic crisis the country went through.

Following the federal government’s termination of last year’s energy auction as well as any new tenders, Brazil has 3.3 GW of solar projects secured through previous competitions. The contracts require these projects to be delivered by 2018.

Currently, Brazil’s state-owned energy research firm EPE and the Ministry of Mines and Energy are doing a series of analyzes in order to determinate the viability of future solar energy auctions, Agencia Brasil noted.

SOURCE: Renewables Now

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