Japan’s 20th solar energy auction has completed with a winning capacity of 93 MW
Winning bids ranged from JPY 4.55 to JPY 8.84/kWh for the 47 projects selected
OCCTO has announced 107 MW of available solar PV capacity under the 21st solar auction
Japan’s latest solar PV auction, the country’s 20th, has concluded with the Green Investment Promotion Organization (OCCTO) selecting 93 MW as the winning capacity, against 121.315 MW of utility-scale PV capacity on offer.
Winning solar projects ranged from 300 kW to 19.5 MW capacities and were awarded to 14 bidders for 47 projects.
Bids were capped at JPY 9.20/kWh. The winning bids ranged much lower. The lowest winning bid was JPY 4.55 ($0.029)/kWh, offered by ENEOS for a 1.9 MW project.
The highest winning bid of JPY 8.84 ($0.058)/kWh was awarded to Solar Glazing for its 9.57 MW solar project. The weighted average winning bid was discovered at JPY 6.84 ($0.045)/kWh. The list of winning projects is available here.
Under the 19th auction, OCCTO awarded all of the 134.1 MW on offer for a weighted average winning bid of JPY 5.11/kWh. The lowest winning bid came in at JPY 0.00/kWh for a 19.9 MW PV project.
For the 21st solar auction round, which will be the 2nd bidding in FY 2024, the available capacity is 106.993 MW.
Earlier this year, in March 2024, the Japanese government introduced new feed-in-tariff (FIT) rates for solar installations across the residential and commercial & industrial (C&I) segments for 2024 and 2025. Projects with a capacity of 250 kW or higher will be selected for the FIT via competitive bidding, while commercial rooftop solar installations won’t have to take the bidding route (see Japan Revises Feed-In-Tariff Rates For Solar Power).