With the local currency, the real, devaluing by around 17% against the US dollar in the past year, and the national development bank, BNDES, raising the interest rates it charges developers, Brazil has become an increasingly unattractive market for foreign manufacturers — despite government plans for 78GW of installed solar by 2050.
The solar ceiling price will have to rise from last year's reserve auction figure of R$262 ($82.40)
