The projects are about 30MW each in size and are located in the northeastern state of Bahia, where the company operates and is building 1.2GW of wind farms.

Becker said that he expects the solar auction to be competitive and Renova will aim to sign between 10% to 20% of all contracts in this year's upcoming solar power auctions.

“We don't want to win just one race, we want to win the whole championship,” he said.

The