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Cemig to hold auction for wind, solar power contracts in Sep

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Cemig to hold auction for wind, solar power contracts in Sep


August 8 (Solar) – Brazilian utility Cia Energetica de Minas Gerais SA (BVMF:CMIG4), better known as Cemig, plans to hold an energy auction on September 20, 2018 to contract wind and solar power.

Cemig has not disclosed the specific amount of energy it is seeking but it stated in the tender notice that the new capacity will be used to meet demand in the Southeast, Midwest, South and Northeast markets.

The auction will award power purchase agreements (PPA) for terms of 10 years and 20 years, both starting on January 1, 2022, but ending on December 31, 2031 and December 31, 2041, respectively.

The tender is open to companies that fulfill certain conditions such as having had their projects qualified for the A-4 or A-6 auctions of 2018, have a minimum installed capacity of 1 GW or a minimum capital of BRL 500 million (USD 132.75m/EUR 114.46m).

The interested parties have until September 11, 2018 to register with Cemig. All the details can be found on the company's tender website (http://www.cemig.com.br/pt-br/a_cemig/nossos_negocios/energia/Oferta_de_Energia/Paginas/Leilao-Compra_LP04-2018.aspx)

(BRL 1 = USD 0.27/EUR 0.23)


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