Recent growth dropped to near zero again. Austerity is biting again.
Brazil focused on Wind, biomass, and Hydro power for the last 15 years, now it’s playing solar catch up.
This project got done:
With solar panel prices constantly falling—about 10 percent of what they were a decade ago—the race to make up that lost ground is well underway.
“The fact that this is the first project using panels built locally also contributes to the development of this technology in Brazil,” Sauaia said.
Government recenty auctioned off Power Purchasing Agreements for new solar installations and prices dropped, becoming ever more affordable for consumers.
Chinese rival PV producer BYD Co Ltd and Canadian Solar Inc have built plants in Brazil, and are looking to supply large-scale projects that could benefit from lower-interest financing from Brazil’s development bank BNDES.