Empresa de Pesquisa Energetica announces the results of an auction held by the Chamber of Commercialization of Electric Power

Brazilian energy agency Empresa de Pesquisa Energetica has announced the results of an energy auction held by the Chamber of Commercialization of Electric Power (CCEE) on May 31, 2019 for the isolated power system of Boa Vista and connected localities in the northern state of Roraima. The CCEE has signed contracts for nine projects aggregating 294 MW. Under the tender, developers had to bid for alternative energy solutions to diesel. The auction concluded with an average price of $213.60 per MWh, registering an average discount of 22.7 per cent in relation to the ceiling price of $277.48 per MWh. Renewable energy developers have been able to secure seven projects. However, the biggest power plant selected in the auction is a 126.2 MW natural gas-based power facility, for which gas will be sourced from the Amazonas region. Renewable energy projects will be awarded 15-year power purchase agreements, while those based on diesel oil will secure seven-year contracts.

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