Renewables consultancy ArcVera has opened a new office in Sao Paulo, Brazil, as it celebrates supporting 2GW of operational capacity in the country.

The company has been operating in Brazil for seven years and has worked on a total project pipeline exceeding 17GW.

ArcVera said the Brazilian energy market is ramping up again following new solar and wind power auctions.

Competition in the market is “as fierce as ever” with “record low project bids being submitted by the major domestic and international players”, it added.

Against a backdrop of “falling prices and narrowing margins” project optimisation is “essential” along with “accurate, bankable resource data” supporting financing, the company said.

ArcVera Renewables president and principal engineer John Bosche said: “In a thriving and competitive renewable energy market like Brazil, it’s fine project margins that decide the ‘winners’ and ‘losers’, both when it comes to financing through the auction process, and when maintaining profitability over the long-term.”

ArcVera was created in March 2017 from the merger of US-based consultancies V-Bar and Chinook Wind.