The company inaugurated this week its new solar energy headquarters in Florianópolis, Santa Catarina

the norwegian electric Statkraft wants to take advantage of Brazil's potential for renewable generation to quadruple its installed solar energy capacity in the Latin American country over the next five years, mainly with wind and solar projects, but also with small hydroelectric plants. The project is in line with the company's operational growth process, which plans to triple its operations in Brazil by 2025.

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“The company seeks a certain scale and size in markets that it considers to have potential, and within this context I would say that Brazil stands out… it has a world-class wind and solar resource and is a market that is in the process of liberalization,” Fernando de Lapuerta, president of the unit in Brazil, Statkraft Energias Renováveis ​​STKF3.SA, told Reuters.

“Our goal is to significantly increase our presence in Brazil, which is currently small. Over the next few years, the goal would be to at least triple or quadruple in size… over the next four to five years,” added the executive.

22 solar power plants in Brazil

The Norwegian company operates 22 power plants in Brazil, totaling 450 megawatts in operation, with 130 megawatts in wind power and the rest in small and medium-sized hydroelectric plants. According to Lapuerta, Statkraft has “several projects” registered for a Brazilian government auction that will contract new plants in October for operation from 2025, the so-called A-6 auction.

Government auctions, however, have shown low demand from distributors in recent years due to the slow economic recovery in Brazil, while the strong interest of investors in long-term contracts offered in bids generates fierce competition, bringing down prices.

As a result, many companies have sought to make new projects viable by selling all or part of future production on the free energy market. In the last auction, the A-4, in June, most of the winning projects negotiated only 30% of the energy, leaving the rest for sale in private contracts.