Brazilian regulators have set an upper limit of $52.26 per megawatt-hour for contracts in next month's competitive bidding for new wind projects, down 20% from a similar auction in 2011. Developers had been hoping for a price ceiling of about $55.80 per kWh because local-content rules have driven up their costs, said Elbia Melo, president of industry group Associacao Brasileira de Energia Eolica.

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