Spanish Company Buys Solar Modules At Record Low Rates

• Solaria's latest solar module procurement price costs 71% less than in 2022
• The price of €0.911/W is 2.15% more than the price it paid in December 2023
• It says this represents the continued improvement in the competitiveness of PV technology

Solaria Energía y Medio Ambiente, the Spanish solar developer and power generation company, says it has procured 435 MW of solar PV modules from a tier I manufacturer for a price that's 71% cheaper compared to 2022. The price of €0.0911 ($0.098)/W is 2.15% more than its last purchase in December 2023.

Solaria says this highlights the continued improvement in the competitiveness of PV technology.

Solar module prices have been declining globally over the last few months due to overcapacity. TaiyangNews has been covering the solar module price scenario across the PV supply chain in its weekly PV Price Index (see TaiyangNews PV Price Index—2024—CW17).

Solaria plans to deploy these modules in its 700 MW Garoña project (Burgos) during 2024, which will replace the 460 MW Santa María de Garoña Nuclear Power Plant. The latter is set to retire after completing its useful working life of 41 years.

This, explains Solaria, is a clear example of energy transition as the green energy facility will generate clean energy that's cheaper and available to the public.

Financed by the European Investment Bank and Banco Santander, the Garoña Solar Project is made up of 4 plants that together are likely to generate a total income of €650 million for the local administration during its 30-year life. Electricity generated by the project will be equivalent to the annual consumption of the entire province of Burgos.