In Brazil a recent energy auction has shown that wind power is cheaper than natural gas in the country, and also a better investment opportunity. The competitiveness of sustainable energy sources continues to impress everyone (even with the subsidized resource-extraction industries), it’s only a matter of time until other sustainable energy options get this cheap.
They even expect the cost of wind power to decrease in the coming years!
EPE president and chief executive Mauricio Tolmasquim said the auctions show that wind and natural gas are competitive, predicting wind prices will continue to fall in Brazil.
“That wind power plants have been contracted at two digit prices, below 100 reals per MWh, showcases the energy market competition through auctions,” he said. “That wind power could reach these lows versus natural gas was unimaginable until recently.”
The energy auctions for a total of 92 projects were the first in Brazil for 2011, and also featured biomass, hydro-electric and natural gas projects.
Investments amounted to 11.2bn reals in total, for 3,962MW of energy that is slated to start generating in 2014.
Read more at Business Green.