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Brazilian solar energy market has been facing equipment shortages after a new outbreak of covid-19 in China (main investor and exporter of solar equipment to Brazil)
Shortage of solar energy-related equipment coming from China to Brazil causes price increases, since the new wave of covid-19 has closed factories and prevented the production of new solar panels, boards and inverters.
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Brazilian solar energy market and the relationship with China
In December of last year (2020), the Brazilian solar energy market ran out of equipment due to the covid-19 pandemic. Months later, there was a worldwide resumption of the renewable market with the encouragement of the new US policy.
In the last half of the year, with the rise in the dollar and the devaluation of the real and the rise in freight rates, the costs of exporting equipment from China ended up becoming extremely high.
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“The value of the solar energy panel coming from China after the outbreak of the new wave of covid-19 rose by more than 30%”, said the founding partner of the Portal Solar marketplace, Rodolfo Mayer.
Race for Chinese investments even amid covid-19
In May, CGN bought two of the largest solar plants in Brazil, Nova Olinda and Lapa, from the Italian Enel, which holds the largest solar portfolio in Brazil. Two months later, in July, it bought Brazil's Atlantic and its robust wind energy portfolio, which includes some of the country's most important plants.
The new investments fueled expectations of more to come. José Roberto de Moraes, CEO of Atlantic, spent the last week taking Chinese executives to several states to see projects under development, meet with government officials and prospect new investments.
“There is a willingness on their part to invest not only in solar energy, but also in wind energy. With that, maybe new projects will follow, ”he said. “It is an expectation. We have to wait and see.”
