Brazil''s energy storage auction to attract $450m in investments
The auction will enhance Brazil''s power grid reliability by integrating energy storage solutions for electricity generated from renewable sources such as wind and solar.
Brazil has made big strides encouraging companies to invest in wind, solar and other renewable power generation sources, offering generous financing and subsidies. But all the electricity they generate has taxed the grid.
Investment in the Brazilian electricity sector is expected to reach over $100 billion by 2029, including utility-scale generation, distributed generation, transmission, and distribution projects. Brazil's electricity matrix is one of the cleanest in the world and Brazil is committed to continuing its support for renewable energy projects.
Grid connection queues in Brazil are offering new opportunities for energy storage and hybrid systems and opening new energy business models. Renewable energy companies are adding solar and batteries to their utility-scale wind power sites to use existing power transmission capacity.
In 2012, Brazil implemented net metering policies, which have recently contributed to large increases in distributed solar generation capacity. Compared with distributed solar, utility-scale solar generating capacity at the end of June was only 17.9 GW, according to the Brazilian Electricity Regulatory Agency (ANEEL).
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