Brazilian renewable energy developer eyes PV investment opportunities

Brazilian renewable energy developer CPFL Renovaveis (BVMF:CPRE3) remains interested in photovoltaic (PV) power projects although it did not participate in the local reserve energy auction at the end of October, CEO Andre Dorf said last week.

The company found that the average sales price of BRL 215 (USD 82.4/EUR 66.1) per MWh was insufficient to guarantee its investments and expects that construction costs will further decrease with the installation of equipment manufacturers in Brazil.

A total 31 solar projects with a planned capacity of 889.7 MW sold their future output at the auction.

In the first nine months of 2014, CPFL Renovaveis’ net revenue rose 28.3% to BRL 878.3 million, with wind, hydro and biomass energy representing 50.1%, 28% and 21.9%, respectively. The company’s Tanquinho PV plant generated 0.02%.

More Stories From Around the Web: