Lightsource BP has won a concession to build 200 MW of solar power capacity in Brazil’s latest renewable energy auction (A-4).
Bidding through a consortium agreement with Enerlife, Lightsource BP has won a 20-year power purchase agreement (PPA) to deliver over 200 MWp of solar power by January 2023.
The contract will enable the firm to develop, finance and build five projects in the north eastern Brazilian state of Ceara, Lightsource said. The projects form part of the company’s recently announced portfolio and talent acquisition from Enerlife in July.
The auction market the first time that solar energy achieved lower prices than wind at a tender in Brazil, according to Lightsource BP. The company will sell 30 per cent of the project capacity to the government at the bid price, with the remaining capacity sold to commercial and industrial customers on the free electricity market.
Vlas Souflis, Director of International Business Development Director for Lightsource BP, said that the company’s group centralised procurement strategies and specialised global structured finance expertise had enabled it to submit “a very competitive pricing structure” in the auction.
“This is a huge win for Lightsource BP on many fronts,” said Miguel Lobo, Director of Business Development for Lightsource BP. “It not only represents our commitment towards progressing solar across the country but also showcases our innovative revenue model, which has allowed us to achieve such competitive prices – a first of its kind in Brazil.”