Japan’s 23rd solar auction saw 5 projects winning the entire 93 MW capacity offered
Winning project sizes ranged from 7.69 MW to 29.9 MW, according to OCCTO
The country’s last solar auction of 2024 was oversubscribed, in contrast to the 2 rounds before that
A total of 5 solar PV projects won all of the 93 MW solar PV capacity on offer in the 23rd solar auction in Japan, with the lowest winning bid considerably lower than the ceiling tariff of JPY 8.98 ($0.060)/kWh. Unlike the 21st and 22nd rounds, this one was oversubscribed.
According to the country’s according to the Green Investment Promotion Organization (OCCTO), it received interest for 197.57 MW of total capacity, out of which it finally selected 5 projects representing the entire tender capacity.
The tender was open to solar PV projects with an installed capacity of 250 kW and higher. The capacity of winning projects ranged between 7.69 MW and 29.9 MW.
The weighted average winning bid was determined at JPY 5.06 ($0.034)/kWh, while the lowest and the highest winning bids ranged from JPY 4.47 ($0.030)/kWh to JPY 6.98 ($0.047)/kWh.
In the previous round, the weighted average winning bid was JPY 8.17/kWh (see Japan’s 22nd Solar Auction Awards 56.4 MW New PV Capacity).
The Japanese cabinet recently approved the country’s 7th Strategic Energy Plan, targeting up to 50% renewable energy share by FY2040 with solar energy as the key focus technology among renewables (see Japan To Aim For 20 GW Perovskite Solar Cell Capacity By 2040).