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The Company Inaugurated This Week Its New Solar Energy Headquarters in Florianópolis, Santa Catarina
The Norwegian utility Statkraft wants to harness Brazil’s potential for renewable generation to potentially 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 hydropower plants. The project aligns with the company’s operational growth process, which has plans to triple its operations in Brazil by 2025.
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“The company seeks a certain scale and size in markets it considers to have potential, and within that context I would say that Brazil stands out… it has world-class wind and solar resources and is a market that is in the process of liberalization”, said to Reuters Fernando de Lapuerta, the president of the Brazilian unit, Statkraft Energias Renováveis STKF3.SA>.
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“Our goal is to significantly increase our presence in Brazil, which is currently small. Over the next few years, the objective would be to at least triple or quadruple the size… over the next four to five years”, added the executive.
22 Solar Power Plants in Brazil
The Norwegian company operates 22 plants in Brazil that total 450 megawatts in operation, with 130 megawatts in wind and the remainder in small and medium-sized hydropower plants. According to Lapuerta, Statkraft has “several projects” in wind registered for a Brazilian government auction that will contract new plants in October for operation starting in 2025, the so-called A-6 auction.
However, government auctions have shown low demand from distributors in recent years due to Brazil’s slow economic recovery, while the strong interest from investors in the long-term contracts offered in the auctions leads to fierce competition, driving down prices.
As a result, many companies have sought to enable new projects by selling all or part of their future production in the free energy market. In the last auction, the A-4, in June, most winning projects negotiated only 30% of the energy, leaving the remainder for sale in private contracts.
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