Brazil’s Ministry of Mining and Energy delayed an auction for electricity from renewable power plants for a few weeks until April 27.
In the auction, existing biomass energy projects will compete for contracts to sell power starting in January 2016, the ministry said in the official gazette today. New biomass and wind energy projects will compete to sell power from July 2017.
The original auction date was April 10. The ministry didn’t say why it postponed the auction.
Developers bid on the price at which they’re willing to deliver electricity in an effort to win contracts to sell power to distributors for as long as 20 years.