Conergy, one of the largest downstream solar companies operating globally, announces (September 1) it has won 60 MWp of solar projects in Brazil’s national auction.

“Brazil’s auction was one of the most competitive in the world,” said Eduardo Abreu, Conergy's General Manager in Brazil. “Of bids totaling 11,200MWp, only 833 MWp were approved, making Conergy’s projects among the top 7.5%. The team’s technical expertise enabled efficient site selection and project design gave the company a competitive advantage during the auction.”

Alexander Gorski, Conergy’s Chief Development Officer, adds, “Conergy leveraged seventeen years of global solar experience to achieve maximum cost competitiveness and project returns. With our global development platform, we look forward to entering exciting markets like Brazil to grow our portfolio.”

Conergy’s two projects, which will receive a 20-year power purchase agreement in the amount of BRL 296 (USD 82.57/EUR 73.58) indexed to local inflation (IPCA), are located in the northeastern Brazilian state of Paraiba, which is known as one of the highest irradiance areas in the country. Close proximity to the point of interconnection leads to very low interconnection costs and makes Conergy’s project portfolio highly attractive to investors.

The Paraiba projects are Conergy’s first utility scale projects in Brazil, a new geographical focus area for Conergy since its acquisition by Kawa Capital Management — a Miami-based asset management firm — and since Brazil has announced aggressive renewable energy goals.

"In the past ten years, Brazil has cut its carbon emissions by 41 percent," said Andrew de Pass, CEO of Conergy, "Conergy is excited to enter Brazil's emerging and fast-growth solar market to grow our global footprint and further our company’s mission to preserve the planet and power the world."

Conergy is set to begin construction of its two projects in the first quarter of 2017 for interconnection in August 2017.