While the original solar power capacity to be tendered was decreased from 1.7 GW to 1.4 GW, Portugal’s first solar auction has received interest for over 10 GW of capacity - a 7X oversubscription. Pictured is the Statue of Christ in Lisbon, Portugal. (Photo Credit: Ronile/www.goodfreephotos.com)
- Portugal’s solar energy auction has received a very positive response from domestic and international players
- According to Reuters, against the original capacity of 1.4 GW the government has received interest for over 10 GW of solar under the auction
- 64 companies, mostly international, will compete with each other to secure their place in Portugal’s solar market
- The government is looking at announcing final winners around August 10, 2019
4 MW Floating Solar Power Plant In Portugal’s Alentejo Being Planned By EDP For €3.5 Million Investment On Alqueva Dam With Commissioning Scheduled For 2020
(05. June 2019)
Portuguese Council Of Ministers Pave Way For Country’s First Solar Auction With 1.35 GW Capacity Scheduled For Summer 2019; Government Expects €6 Billion Investment: Media
(21. May 2019)
First Large-Scale Solar Power Auction In Portugal Scheduled For June Or July 2019, With 1.75 GW Capacity On Offer; Expect Bidding Guidelines In March Or April 2019: Reuters
(27. February 2019)
More than 10 GW of new capacity has been offered by companies interested in the development of solar power projects in Portugal during the country’s solar energy auction. Tha means the auction was oversubscribed by a factor 7.
The original capacity offering went through several changes from 1.7 GW to finally 1.4 GW. Earlier in June 2019, the government said it received interest from about 300 investors and decided to extend the deadline for the mega auction to July 7, reported Reuters.
Portugal finally had 64 companies competing to win a share of the pie. As the Environment and Energy Transition Minister Joao Pedro Matos Fernandes said investors had offered over 10 GW of new capacity. Most of the interested investors are foreign companies. The final winners will be announced on August 10, 2019.
“Out of 24 locations to install solar panels, only one found no bids, and one had an instant winner, while 22 licenses will require auctions where bidders offering the largest discount off the energy tariff will win,” Reuters reported.
The government expects an investment of up to €1 billion ($1.12 billion).