€0.04584/kWh Lowest Winning PV Tariff In Greek Auction

Solar PV Attracts €0.04584/kWh As Lowest Winning Bid Under Greek July 2020 Auction, But Wind Power Secures Larger Capacity
11:29 PM (Beijing Time) - 31. July 2020
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Even though solar PV capacity awarded in the July 2020 auction by the RAE in Greece was way less than what was offered, tariffs for this technology were discovered to be significantly low compared to the ceiling tariff, and even compared to the last low winning PV tariff discovered in the April 2020 auction for a 200 MW solar project.

Key Takeaways

  • RAE has announced winners of the first technology specific auctions for solar PV and wind power
  • Winners in the solar PV category won a total of 142.45 MW against 482.03 MW offered
  • Tariffs for solar PV were a significant drop from €0.063 per kWh ceiling tariff with the lowest determined as €0.04584 per kWh
  • Lowest winning tariff for wind power was €0.05386 per kWh as against €0.06299 per kWh as the ceiling bid

The Greek Energy Regulatory Authority (RAE) discovered €0.04584 ($0.054) per kWh as the lowest winning tariff for solar PV capacity in the latest round of solar and wind power auctions concluded on July 27, 2020. This tariff was achieved against €0.063 per kWh ceiling tariff for category 1, comprising PV projects with up to 20 MW capacity (see Greece To Hold Wind & Solar Auction In July 2020).

The highest winning tariff for PV projects was €0.06245 ($0.074) per kWh, and the average winning price was €0.04981 ($0.059) per kWh which was 20.9% lower than the ceiling tariff which the agency celebrated as a new low for clean energy tariffs.

The lowest winning tariff is even lower than €0.04911 per kWh RAE’s April 2020 auction attracted for a 200 MW solar power project in Kozani region in the joint auction of wind and solar power (see Greece Allocates Over 502 MW In Joint RE Auction).

While the agency celebrated the lower tariffs determined in this auction, the total capacity auctioned for solar was less than what was offered. Maximum capacity to be allocated under category 1 was 482.03 MW but RAE awarded only 142.45 MW to as against bids received for 199.43 MW.

Wind power beat solar PV by securing all of 481.45 MW aggregate capacity offered for maximum tariff of €0.06299 per kWh. Lowest bid for this category was €0.05386 ($0.064) per kWh. Capacity limit for wind power projects under category II was 50 MW or above.

The complete list of winning projects can be viewed on RAE website.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani