Solar energy companies have hailed Brazil’s latest renewable energy auction as a milestone for solar energy.

The auction was the first in the country with a separate category for solar energy and awarded a total of 1048 MW of solar projects. Three solar energy developers won more than 70 per cent of the solar capacity awarded, according to Bloomberg news.

Italy’s Enel Green power and two Brazilian developers – Solatio Energia and Renova Energia – won a total of 801 MW of solar capacity between them in the auction and will invest a combined R$3 billion.

Developers agreed to sell electricity at an average price of R$215.12/MWh in the auction.

Enel won contracts for seven solar farms with a total capacity of 254 MW, while Renova won four projects totalling 107 MW. Solatio received contracts for 12 solar farms with a combined capacity of 440 MW.