Brazil on course to see record power capacity expansion

Brazil is expected to register record expansion of its power generation capacity in 2023, according to the mines and energy ministry (MME).

The growth is largely associated with the expansion of wind and solar sources, which should account for more than 90% of the 10.3GW planned to enter commercial operation this year.

In February, the increase was approximately 749MW, bringing the total expansion to 2.027GW in 2023. 

As for distributed generation, the expansion was 1.81GW in the first two months, reaching a total of 18.2GW.

Due to favorable hydrological conditions, the government is evaluating surplus power generation to allow for exports to Argentina and Uruguay. 

The projection is that the electrical system will reach the end of November – which marks the end of the dry season – with minimum hydroelectric storage of 21.4%.

Regarding transmission, 1,096 km of lines were added in February, totaling 1,761km since the beginning of the year.

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Energy minister Alexandre Silveira attended a ceremony on Thursday, together with President Luiz Inácio Lula da Silva and Paraguayan President Mario Abdo Benítez, in which the new Brazilian general director of Itaipu Binacional, Enio Verri, assumed his post. 

"We’ll reinforce Itaipu's role, guaranteeing a social and environmental vision that brings development, employment and income. Energy security and the generation of clean and renewable energy for all, with fair rates, will always be priorities for us," Silveira said during the ceremony.

The official said the review of annex C of the Itaipu treaty, which deals with the financial bases of the energy supply rate, will be important to strengthen the ties between Brazilians and Paraguayans.

Itaipu Binacional operates the 14GW Itaipu hydro plant shared by the two countries. 

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Taesa intends to invest about 4.5bn reais (US$850mn) by 2027 in the transmission projects it acquired in auctions, the company said Thursday during a conference call with investors.  

Executives said the company is interested in participating in the transmission auction scheduled for this June.

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77Sol has closed its second round of fundraising with two new partners, EDP Brasil and independent private equity and venture capital manager Crescera Capital. The investment totaled 14mn reais.

77Sol offers commercial tools for drawing up proposals for the dimensioning of PV solar systems and management tools that help with following up orders, besides access to a marketplace for quotes and purchase of equipment, consultation, pre-approval and requisition of financing, and insurance contracting.

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Eneva has concluded the incorporation of Central Geradora Termelétrica Fortaleza (CGTF), owner of the Fortaleza thermoelectric plant in the likewise named capital of Ceará state. 

Bought from Enel Brasil for 490mn reais in 2022, the incorporation was authorized by regulator Aneel.

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Chesf, a subsidiary of Eletrobras, has obtained a loan of 96.8mn reais from Banco do Nordeste do Brasil bank (BNB). 

The operation is aimed at financing improvements to Chesf's transmission facilities in the northeast region.