Latin America PV Snippets: Ecuador, Wood Mackenzie, Natixis

Ecuador To Launch 500 MW Renewable Energy Auction On November 27, 2021; Wood Mackenzie Believes Latin America Will Install 11.3 GW DC Solar In 2021; Natixis & CVE Chile Raise $95 Million For 150 MW PV
11:05 PM (Beijing Time) - 15. September 2021
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The Ecuadorian renewable energy auction scheduled to be announced in November 2021 will have 100 MW capacity reserved for solar power technology. (Illustrative Photo; Photo Credit: Sergio Sergo/Shutterstock.com)

Key Takeaways

  • Ecuador is to launch a 500 MW renewables auction on November 27, 2021, according to BNamericas
  • A report by Wood Mackenzie says Latin America will install 11.3 GW DC solar PV in 2021
  • CVE Chile and Natixis have closed a $95 million facility to support Chilean PV projects with combined capacity of 150 MW

Ecuador to hold 500 MW RE auction: The CEO of Ecuador’s electricity company Celec has told BNamericas that the country plans to launch a tender for 500 MW of non-conventional renewable energy (NCRE) capacity. It would comprise 220 MW of wind energy, 100 MW of solar PV, 30 MW of biomass projects, along with small and mini hydroelectric facilities of up to 50 MW for a total of 150 MW. A call for selection process is scheduled to be launched on November 27, 2021. These projects are estimated to involve an investment worth $750 million. PV projects awarded under the tender will need to come online within 2 years and supply electricity for 25 years. Recently, Ecuador announced Gransolar and Total Eren as the winning consortium of 14.8 MW Conolophus Renewable Energy Microgrid Project which will also have a 40.9 MWh battery energy storage capacity (see Latin America PV Snippets: Ecuador, Argentina, Helexia).

11.3 GW DC solar for Latin America in 2021: A new report titled Solar PV Dynamics in Latin America by Wood Mackenzie estimates Latin America to add 11.3 GW DC new solar PV capacity in 2021. It will be mostly driven by commercial and industrial clients in Brazil, Chile and Mexico. Over the next 5 years, Brazil and Chile will lead new solar PV installations in Latin America thanks to subsidies for renewable energy projects in Brazil, and Chile’s PMGD scheme. Altogether, by 2026, the total installed capacity of the region will grow to 71.9 GW DC by 2026. The report can be purchased from Wood Mackenzie’s website for $3,990.

$95 million for 150 MW solar in Chile: French renewable energy producer CVE Chile and French multinational financial services firm Natixis have closed a $95 million senior secured facility to support a total of 150 MW solar power capacity in Chile. Portfolio comprises projects under the country’s distributed generation support scheme PMGD with each facility having up to 9 MW AC capacity. All projects will sell electricity generated at the regulated stabilized price. CVE Chile has the flexibility to add other projects to this portfolio if those meet requisite criteria.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani