First Greek RE Auction Awards 106 MW PV

Over 277 MW Renewable Energy Awarded In First Renewable Energy Auction In Greece; Solar Secures 106 MW
01:55 AM (Beijing Time) - 06. July 2018
RE auction greece

The lowest solar winning tariff winning bid was around 8% lower than the best wind bid in the Greek RE auction.

Key Takeaways

  • A total of 277 MW was awarded by Greek energy regulator RAE in the country’s first renewable energy auction
  • Solar won 106.4 MW in two categories combined with lowest winning tariff being €62.97 ($73.6) per MWh
  • Weighted average power prices in the first and second category was €78.42 ($91.7) per MWh and €63.81 ($74.64) per MWh, respectively

 


The Energy Regulatory Authority of Greece, RAE, has finally concluded the first renewable energy auction for solar PV and wind power sources in the country. The auction was divided into three categories, two for solar PV and one for wind. In all, over 277 MW was contracted, with PV’s share reaching 106.4 MW.

For the first category of up to 1 MW PV projects, RAE received 1,527 bids, of which 83 projects with 53.48 MW were awarded. Accepted bids ranged from €75.87 to €80 ($88.7 to $93.5) per MWh, the weighted average price was €78.42 ($91.7) per MWh. The bulk of the winning capacity was bagged by local Greek company Egnatia Energia, which alone won 34 MW.

In the second category for PV capacities from 1 MW to 20 MW, 280 bids were submitted. Eight projects won 52.92 MW of new PV capacity, with Germany’s ABO winning five projects, representing 45 MW. The bid prices ranged between €62.97 and €71 ($73.6 to $83) per MWh, the weighted average price was €63.81 ($74.64) per MWh.

In the third category for wind power projects between 3 MW and 50 MW, at total of 170.92 MW was awarded. The lowest winning bid in this category was €68.18 ($79.75) per MWh.

The RE auction’s winners list is available on RAE’s website.

Greece plans to roll out more such tenders till 2020 to be able to contract 2.6 GW of new renewable energy capacity (see Greece To Hold Solar & Wind Tender in July 2018). Its auction scheme was approved by the European Commission in January 2018 (see EU Approves Greek Auction Scheme).

 

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani