Aurora Energy Research, a UK-based consultancy providing energy market analysis, has recently warned of rising renewable PPA costs in Brazil. Aurora Energy Research has stated that curtailment and market risks were likely to add more than BRL 110 (~ $21) per MWh to new agreements. Aurora Energy Research has projected that solar projects in states such as Bahia were expected to face curtailment rates exceeding 30% through 2030. Aurora Energy Research has explained that curtailed generation obligates developers to meet contracted positions at the PLD floor price of about BRL 60 (~ $11) per MWh. Aurora Energy Research has added that exposure to intraday price volatility and widening regional spreads has created risks to debt service ratios and project bankability. Aurora Energy Research has further noted that nearly two-thirds of 40 markets reviewed, particularly in Latin America, were not compensating curtailment losses. Aurora Energy Research has recommended targeted transmission expansion and clearer locational pricing signals, with findings scheduled for presentation during a public webinar on September 17, 2025.