Brazil to Let Developers Cancel Contracts for First Solar Farms
- Decision is shift from June plan to penalize developers
- ‘Capacity that Brazil needs is the one that can be realized’
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Brazil will let clean-energy developers cancel their contracts to build the nation’s first large-scale solar farms, reversing an earlier decision.
The Ministry of Energy is drafting new rules to let developers get out of the contracts, and is still discussing possible penalties for companies that had pledged to complete the power plants by October 2017, according to the ministry’s Planning Secretary Eduardo Azevedo.