Wind Beats Gas as Brazil Sells $18.1 Billion of Power Contracts
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Brazilian wind farm developers including Renova Energia SA and SeaWest WindPower Inc. agreed to deliver electricity at lower rates than energy generated by hydroelectric and natural gas plants at a government auction yesterday for 29.1 billion reais ($18.1 billion) of power contracts.
Developers of 44 wind farms agreed to sell power for 99.58 reais a megawatt-hour, national energy agency Empresa de Pesquisa Energetica said yesterday in a statement. Two natural gas plants signed contracts to deliver electricity for 103.26 reais a megawatt-hour, and an expansion to a hydroelectric project in the Amazon signed a deal for 102 reais.