€0.011/kWh Record Low Bid in Portugal Solar Auction

2nd Solar Auction Of Portugal Makes History Again; Attracts €0.0112/kWh As Lowest Winning Bid, A Record Low Globally
09:47 PM (Beijing Time) - 25. August 2020
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Over the course of some time now, solar power tariffs for several auctions across the world have fallen to under $0.02 per kWh with Portugal’s 700 MW auction making another world record turning out to be the lowest till date.

Key Takeaways

  • 700 MW solar auction in Portugal has secured the lowest tariff of €0.0112 per kWh
  • The tariff was reportedly quoted by 2 companies that offered to build solar and storage systems for this price
  • Tuesday auction details are not yet out and will be finalized later officially

Portugal’s second solar auction has attracted the lowest bid of €0.0112 ($0.013) per kWh – and it is the lowest globally. That is if the Tuesday auction doesn’t throw up another surprise low because this tariff has been determined on the first day of the 700 MW auction, according to Expresso newspaper.

This is even lower than $0.0135 per kWh for the 2 GW Al Dhafra Solar PV Project in Abu Dhabi quoted by the winning consortium of EDF and JinkoPower (see 2 GW Abu Dhabi Solar Project Partners Announced).

Expresso says this tariff has been quoted by 2 companies both of whom have proposed to add a battery storage system for their solar projects.

“Now, the results of today’s solar auction show that Portugal is even one of the most competitive countries in the world in terms of solar. It is a big, huge victory for the country. What happened today is historical. Historic,” tweeted Portugal’s State Secretary for Energy, Joao Galamba.

El Periodico de la Energia said the Monday auction had 5 lots and on Tuesday, 7 remaining batches will be announced, all of which are located in Alentejo and Algarve regions.

In the first solar auction of Portugal concluded in the summer 2019, Akuo Energy offered the lowest winning bid of €0.01476 ($0.01646) per kWh (see Portugal Awarded 1.15 GW Capacity In Solar Auction).

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani