Brazilian Minister Of Mines And Energy Meets With Huawei, BYD, And CATL

 

Brazilian Minister of Mines and Energy Meets with Huawei, BYD, and CATL; Energy Storage Auction Expected to Attract $18.5 Billion in Investment by Year-End

 

Brazilian Minister of Mines and Energy, Alexandre Silvera, held bilateral talks with Chinese energy companies including Huawei Digital Energy, BYD, CATL, Envision Energy, Sungrow Power, Hi-Tech Energy, and Haichen Energy Storage during his visit to Asia.

 

The talks aimed to attract international investment to Brazil's first large-scale energy storage auction scheduled for the end of this year. Silvera stated that battery energy storage systems can improve the reliability of the national interconnected system and enhance the penetration of renewable energy sources such as solar and wind power. Batteries can balance excess power generation during periods of low demand, such as the Christmas and New Year holidays.

 

This year, battery procurement will be included in Brazil's regulatory framework for energy storage capacity auctions, which specifically includes an energy storage section. The Brazilian Energy Storage Solutions Association estimates that approximately 18 gigawatts of battery projects are ready to register for the auction. The association points out that signing contracts for just 2 gigawatts of capacity could unlock 10 billion reais in investment.