Record Low Tariffs In 11th Japanese PV Auction

• The 11^th solar auction of Japan has awarded 273 projects with a total capacity of 268.7 MW
• Volume of awards almost meets 278.6 MW on offer
• The weighted average winning bid was JPY 9.99 per kWh, as against the ceiling tariff of JPY 10.25 per kWh
• Lowest winning bid in this auction was reported by the Green Investment Promotion Organization as JPY 8.99 per kWh and highest as JPY 10.25 per kWh

Japan's 11^th solar power auction has concluded with the government selecting 268.709 MW of new capacity from projects with over 250 kW or more systems in the form of 273 facilities, as against 278.59 MW on offer.

The Green Investment Promotion Organization, set up by the country's Ministry of Economy, Trade and Industry (METI) to conduct competitive procurement processes for renewable energy, counted the total number of bids in response to the tender coming in as 273. Total number of business plans submitted for qualification to the tender round added up to 345.

As against the ceiling tariff of JPY 10.25 ($0.088) per kWh, the weighted average bid price came down to JPY 9.99 ($0.086) per kWh, while the lowest and highest winning bids ranged between JPY 8.99 ($0.077) per kWh and JPY 10.25 per kWh, respectively.

Since the beginning of solar auctions in Japan since 2017, it is the 1^st time solar tariffs have dropped below JPY 10.00 per kWh mark.

List of winning projects and companies are available on the organization's website.

In the 10^th solar power auction round for projects with 250 kW or higher capacity, a total of 332.56 MW capacity was awarded to 188 projects with the weighted average bid price of JPY 10.34 per kWh while the tariffs were capped at JPY 10.50 per kWh. Highest and lowest winning bids ranged between JPY 10.40 per kWh and JPY 10.23 per kWh.