EN 
PT_BR 
BNB financed practically half the amount of solar projects in Brazil. However, the debenture was the source of funding that grew the most among the new projects mapped in 2021/2022.
This is what the Strategic Study of Large Solar Plants of 2022, carried out by Greener. According to the company, the debenture, given this scenario, is considered an important source of financing.
What is a debenture?
A debenture is a debt security issued by companies that offer credit rights to the investor. It works like a loan made so that companies can carry out their plans.
Thus, they are securities that represent medium or long-term debt. Therefore, whoever holds the title guarantees the right to credit that must be paid by the issuing company.
More data
By March 2022, the survey showed that of the projects granted, both in the free and regulated environments, 4.8 GW are already in operation, 3.9 GW are under construction and 35 GW have not yet started construction.
Another point highlighted is in relation to the chain of large solar plants in Brazil, which signed a number of photovoltaic module supply contracts exceeding 4.3 GWp in 12 months.
The panels used in the projects are mostly imported, representing 97% of the accumulated amount.
GC Projects
According to the study, there is an acceleration of new projects that is related to the expansion of PPAs (energy purchase and sale contracts) and self-production agreements, which exceed 10 GW.
Regarding the volume of mapped solar PPAs, it reached 10.7 GWp, with 25% of the new contracts being demanded by the steel and metallurgy sector.
Status of projects on Mercado Livre
Furthermore, Greener highlighted that, although Minas Gerais has the highest accumulated granted power, the state does not have photovoltaic plants in operation. The plants under construction are expected to start commercially in 2022/2023.
Bahia is the state with the highest capacity of solar plants in operation, with 0.58 GW, indicated the survey carried out by the consultancy.
PLD monthly average
Another conclusion of the research is the high volatility of the PLD (Difference Settlement Price) in a year of water crisis. From April 2021 onwards, prices began to increase, reaching the ceiling of R$ 583.88 / MWh of the structural maximum PLD in July and August.
