Greece Allocates Over 502 MW In Joint RE Auction

Solar Claims Lion’s Share In Greek Technology Neutral Renewable Energy Auction Winning 350 MW Of 502.94 MW Awarded
11:16 PM (Beijing Time) - 06. April 2020
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Solar was the clear winner in Greece’s 2nd technology neutral renewable energy auction as it won 350 MW out of 502.94 MW awarded by the RAE. (Photo Credit: Aidan Meyer/www.goodfreephotos.com)

Key Takeaways

  • RAE has awarded 502.94 MW of wind and solar power capacity in the country’s technology neutral auction
  • Solar PV technology emerged as the largest winner winning 350 MW of the total 502.94 MW awarded
  • Lowest bid received was €0.04911 per kWh and the average winning bid was €0.05159 per kWh

Greece has auctioned 502.94 MW of renewable energy capacity under a joint auction of wind and solar power technologies. Solar bagged 350 MW of the total awarded. Wind managed to win only one project with 153 MW capacity. Greek Energy Regulatory Authority RAE was able to secure winning prices ranging between the lowest €0.04911 ($0.053) per kWh and highest €0.05482 ($0.059) per kWh.

The weighted average winning price was €0.05159 ($0.056) per kWh.

The auction was announced in February 2020 when RAE said it had 600 MW of solar PV and wind power capacity to allot, and capped tariffs at €0.06132 ($0.066) per kWh (see Greece Announces Second Wind Solar Tender).

RAE received 44 bids for its 2nd joint solar and wind power auction and the lowest winning price €0.04911 per kWh was adjudged for a 200 MW solar power project in Kozani region. Second lowest bid of €0.05068 ($0.055) per kWh and third lowest bid of €0.05087 ($0.055) per kWh were for 70 MW and 42 MW solar power projects, respectively.

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

In the first joint wind and solar PV auction back in April 2019, 437.8 MW of renewable energy capacity was awarded by RAE with weighted average winning bid of €0.057 per kWh (see Greece Awards Over 427 MW In 600 MW RE Auction).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani