EN 
PT_BR 
We had a very challenging first semester, with the instability of commodity prices that directly influenced the production cost of the modules. This is the analysis of Rafael Xavier, Sunova Operations Manager in Brazil.
Furthermore, in the executive's view, the Brazilian market photovoltaic energy slowed down for GD (distributed generation) due to changes in the law and high interest rates.
"O polysilicon, for example, main raw material for making panels, lived a real 'rollercoaster' this year. Comparing January 23 to June 23, there was a drop of 46%, but not before having similar growth in the months of February and March”, he said.
“Consequently, this brought big problems for many distributors who closed their contracts and soon after came huge changes in the costs of the modules”, added Xavier.
Other point that influenced directly in the costs, according to him, was the exchange, which opened the year at R$ 5.40, spent the entire first quarter above R$ 5.15, but fell from R$ 4.80 in June. “Now, it has returned to the level of R$ 4.90~5, also making larger volume or long-term contracts more difficult.”
“With this sum of factors, the sector and the country are experiencing a turbulent year, but the horizon opens up for us in this last quarter with the hope of a resumption of business in the sector, an extremely productive Intersolar and Sunova's work with its main partners”, highlighted the expert.
Projections for the 4th quarter
According to Sunova's Operations Manager, the company is projecting a fourth quarter with higher volume, following what has happened in recent years in Brazil, although the profitability of projects is decreasing for practically the entire chain today.
“However, our main objective today is to continue growing. In the release of the latest Greener survey we saw that we have already risen from seventh to sixth place in the ranking of imports to Brazil (with a minimal difference to fifth). So, we believe that, even in a challenging year, we managed to improve our position and our market share in the country as well”, he highlighted.
For Rafael Xavier, the big trend they are betting on, in terms of products, is the massification of N-Type TOPCon modules, a technology they have been investing in since the beginning of the year, mainly with the 575 W modules.
“At Intersolar Brasil, we present the new 600/605W model, now available for quotation and which highlights its efficiency, reaching up to 22.9%. This is due to a small change in the cell, which makes it rectangular (186x182mm, compared to the standard 182x182mm cell). Combined with efficiency, the module is around 5 cm larger and the width becomes ideal for improving the plant’s LCOE”, he pointed out.
“We are working hard on this to bring about a mentality where we start talking about LCOE and equipment quality, especially for large plants, and get away from the eternal comparison of R$/W of equipment and the mistaken mentality that panels are 'all the same' or a 'commodity'”, explained the executive.
According to Xavier, it's not just products and technology that the manufacturer is looking to differentiate for the rest of the year. They are investing even more in Brazil, bringing local stocks and increasing the size of the team to strengthen relationships with partners.
Sunova Certifications
Due to the challenging scenario that the solar sector is experiencing, Sunova made some changes to its commercial policy and sought more differentiation for the brand within the market.
“In this case, we had the most notable news that we were able to showcase at Intersolar, which was obtaining Tier 1 from Bloomberg to be able to show the solidity of our brand also in large projects, in addition to our already consolidated operations in DG”, he emphasized.
“We also initiated two other processes. Thanks to professional and structured management, we received two consecutive promotions in our rating at PV TECH, in addition to being classified as a low-risk company for both cash flow and debt”, he highlighted.
In parallel to this, he commented that the company rushed to obtain technical certificates from PVEL. “We signed the contract in February and started testing the following month. We are working hard to have all the necessary tests completed this year so that we can have this independent and global technical certification”, he concluded.
