Low power demand in its Covid-ravaged economy meant Brazil signed up for just a tiny fraction of the wind and solar put forward for the nation’s first regulated market tender since they were suspended in 2019.

Only three power distributors of 100 operating in the country contracted power at two tenders held on Wednesday, for a total of 418MW of onshore wind and 269MW of solar at 33 and seven projects respectively – a fraction of the 22GW of wind and 41GW of PV registered for the process.