The Portuguese solar market has become the talking point for the PV world as it is now home to the lowest PV tariff. In the recent solar auction the winner's bid was as low as €14.76 per MWh. Neoen and Solaria Energia are among the winners of these auctions. (Photo Credit: Solaria Energía y Medio Ambiente, S.A.)
- Neoen of France has said it will develop its 65 MW solar power plant in Portugal it won during solar auction in Rio Maior
- The project has a 15-year contract with the Portuguese government for a tariff of €23.47 per MWh
- It will be constructed in 2021 with commercial operations due in early 2022
- Solaria Energía y Medio Ambiente of Spain has entered the Portuguese solar market after winning 49 MW capacity which will be spread across 4 projects in Alentejo region
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French renewable energy player Neoen revealed the details of its 65 MW project win in Portugal’s first solar auction, as revealed by the Directorate-General for Energy and Geology recently (see Portugal Awarded 1.15 GW Capacity In Solar Auction).
Neoen’s project, which will be located in Rio Maior, 70 km north of Lisbon, is already at an advanced stage. It secured the contract for a price of €23.47 ($26.32) per MWh under a 15-year power purchase agreement (PPA) with the Portuguese government. The price, said Neoen, lends the project good economic profitability.
Construction on the plant is expected to begin in 2021 and commercial operations are due in early 2022. Once the project is commissioned, it is expected to generate 130 GWh of clean power annually.
In Portugal, the company has been active since 2010 and already has 3 ground mounted solar PV projects.
Another company Solaria Energía y Medio Ambiente, S.A. of Spain has also shared details of its 49 MW win in the Portuguese auctions which marks the company’s entry into the neighbouring country’s solar market. It won the capacity for €19.64 ($22) per MWh which will be developed in the form of 4 projects in Alentejo region. Together, the plants are expected to produce around 100 GWh of clean power annually post commissioning.
The Portuguese solar auction has made history as among the winners of the solar auction is another foreign company Akuo Energy from France that quoted the lowest bid of €14.76 ($16.46) per MWh to win 150 MW out of total 370 MW, which is the world’s lowest-cost solar PV contract as of today.