Portugal Awarded 1.15 GW Capacity In Solar Auction

France’s Akuo & Spain’s Iberdrola Win Big In Portugal’s Solar Auction; €14.76/MWh Lowest Bid Offered By Akuo For 150 MW Project While Aura Power Won 18 MW For Highest Winning Bid Of €31.16/MWh
06:59 PM (Beijing Time) - 11. August 2019
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Iberdola of Spain was the second largest winner in the Portuguese solar auction marking its entry into the solar market of the western neighbour. It will develop 149 MW won in Algarve and Tagus Valley. Pictured is the shoreline of Algarve in Portugal. (Photo Credit: Had01/www.goodfreephotos.com)

Key Takeaways

  • The first solar energy auction in Portugal awarded 1,150 MW of nominal power out of which 862 MW will be eligible for guaranteed remuneration of power sold
  • Akuo Energy of France secured the lion’s share of the capacity with 370 MW in the form of 3 projects; for its 150 MW win it offered the lowest winning bid of €14.76 per MWh
  • Another big win was for Iberdrola of Spain that entered the Portuguese solar market with its 149 MW portfolio contracted during the auction
  • Highest winning bid of €31.16 per MWh came for a 18 MW project and was proposed by UK’s Aura Power

Portugal’s Directorate-General for Energy and Geology (DGEG) has finally announced the list of winners for the country’s first solar energy auction, declaring France’s Akuo Energy as the largest winner with 370 MW of capacity out of a total of 1,150 MW awarded.

The 3 projects Akuo Rrenováveis Portugal, Lds won have a capacity of 150 MW, 100 MW and 120 MW. Akuo offered to build the 150 MW project for the lowest bid of the auction €14.76 ($16.46) per MWh, which is being considered as the world’s new record low solar PV bid (see World Record Low €14.76/MWh PV Bid In Portugal).

The highest winning bid came from the local subsidiary of UK based Aura Power for a 18 MW project for €31.16 ($34.89) per MWh.

Most projects (7) were won by Spain’s Iberdrola, representing 149 MW. It will develop these plants in Algarve and Tagus Valley. In Portugal, Iberdrola is currently developing a large hydroelectric complex with a total power of 1,158 MW.

Power&Sol-Energias Renovaveis S.A., Days of Luck, and Unipessoal each secured 100 MW capacity, and 2 projects with 50 MW each were won by Neon Portugal and Everstream Energy Capital. Germany’s Enerparc Projects GmbH managed to wind an 18 MW project, Enerland 2007 Fotovoltaica grabbed 15 MW capacity, among other winners.

Out of 1,150 MW contracted, 862 MW capacity will get guaranteed remuneration for power generated and sold by their projects wins, while 288 MW will be eligible for general remuneration or variable tariff rates.

The auction results and list of winners can be downloaded from a dedicated auction website of the Portuguese government.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani