Vector Cuatro, Technical Advisor in a 190 MW solar project in Brazil
The Spanish consultancy, one of the leaders in professional services for renewable energy projects worldwide, has provided technical advisory services in a 190 MW solar project in the southeast of the country.
The project is composed of five solar PV plants located in Minas Gerais that are expected to begin construction during 2016. Thanks to its proven track-record, Vector Cuatro has been selected to carry out the solar resource assessment in this first phase as well as the yield assessment of the expected lifespan of the PV plants.
The company continues growing by assuming new projects and entering different markets. Specifically in Latin America, Vector Cuatro totals experience providing its services as Technical Advisor in more than 1,300 MW, in Mexico, Guatemala, the Dominican Republic, Ecuador, Peru, Honduras, Chile, El Salvador and Panama.
The Brazilian electricity market was redesigned by a legal reform in 2004. The new scheme which was introduced by the reform creates a regulated market where distribution companies contract their energy demand through energy auctions. At the moment, in Brazil are only 22.9 MW of solar PV capacity installed, although another 1,851 MW were already awarded by auction and are to be connected in the coming years. Additionally, for 2016 there have already been announced two further auction processes, the first one to be hold on July 29, with plans to contract each one approximately 1 GW of capacity.