Brazil has set the maximum auction rate for wind and solar projects for November.

Brazilian energy regulator ANEEL has approved a ceiling price of $97.86 (£62.6) per megawatt hour (MWh) for solar projects and a maximum price of $55.6MWh (£35.5) for wind energy.

The winning projects will be awarded 20-year supply contracts with the future plants expected to start operating in November 2018.

This is the second energy auction in Brazil this year.

The first was held in August when the country awarded 669MW worth of contracts.