The auction is taking place in February of next year and concerns contracts with delivery due in 2021. Overall, 1,055 power generation projects have been registered.
Expansion plan of the energy sector forecasts an increase of 55% in power generation in Brazil until 2024.
The Brazilian Development Bank (BNDES, in the Portuguese acronym) is providing financing for wind farm projects in the states of Ceará, Rio Grande do Norte and Rio Grande do Sul, with 480 MW of capacity.
Use of energy dropped 2.9% in Brazil over the same month of 2014, according to survey by Energy Research Company. The first seven months of the year showed less of a decline.
Program estimates funding of US$ 33 billion in generation and US$ 19.9 billion in power transmission.
China’s State Grid Brazil Holding S/A made the winning bid at the energy auction held by the National Electric Energy Agency at the BM&F Bovespa exchange. The holding will supply 2,550 km of power lines.
Purchases from neighboring countries could be expanded, according to the executive secretary of the Ministry of Mines and Energy. The level of the hydroelectric plants’ reservoirs declined.
The 2.2% increment from 2013 was the lowest since 2009. Electricity usage by industry decreased, weighing down on overall performance.
Financing to the sector from the Brazilian state-owned institution was up 83% in 2014 from 2013.
IFC, the IBRD’s private sector arm, has announced a US$ 207 million loan for building seven photovoltaic plants.
The country ranks among the world’s ten most inviting countries to investment in the sector, according to a survey by Ernst & Young. It has climbed two positions in the ranking.
According to Brazil’s National Electrical System Operator, such was the economy from the daylight saving time (DST). The demand for power was down 4% during peak hours. The DST ends next Sunday.