Greece announces timetable, prices for renewable energy auctions

The Greek Ministry of Environment and Energy released an updated version of the timetable for renewable electricity auctions.

The new schedule sets the time and the capacity for each auction, while it calls for four auctions to be held this year and five in 2024.

It should be noted that 2024 is set to be the last year when auctions will take place, so after that renewable energy producers will have to directly compete in the market or sign power purchase agreements (PPAs) to sell output.

A joint auction is planned in the third quarter for wind farms that have more than 6 MW in capacity and for photovoltaics of over 1 MW, with a combined quota of 1.2 GW.

Around the same time, an auction for PV units of less than 1 MW should be held for 200 MW, as well as a special auction for wind farms of 60 kW – 6 MW with 100 MW offered.

In the fourth quarter of this year, a joint auction for wind farms and solar power plants is envisaged for projects to be installed in neighboring countries. The capacity on offer will be determined through a later decree by the ministry.

There will be a joint auction in the second quarter of 2024 for 500 MW in wind and PV, followed by a joint auction for renewable electricity projects with storage for 200 MW in total.

Finally, near the end of next year, an auction is planned for solar power installations of up to 1 MW, with a 200 MW quota, and one for wind farms of 60 kW – 6 MW, where 100 MW would be offered.

New prices set for each technology

The ministerial decree also set ceiling prices for projects to be installed in neighboring countries.

The level for photovoltaics was determined at EUR 54 per MWh, compared to EUR 62 per MWh for wind power projects. The maximum prices are the same as in last year’s auction for domestic projects.

As for the auctions to take place in 2023, the prices were set at EUR 70 per MWh for PV and at EUR 83 per MWh for wind farms.

Investors that win at the joint tenders will have a maximum of 36 months to realize wind projects and 30 months for PV. In the case of special auctions, the time is set at 23 months for solar power and 24 months for wind. For projects combining renewables and storage, the available time is 36 months for wind and 30 for PV.

International tender for geothermal energy

The Greek government also proclaimed last week an international tender for the development of four geothermal fields in Eastern Macedonia and Thrace.

The areas are the central and southern parts of the Strymonas river basin, the western part of the Nestos river delta, and the Evros river delta.

Potential participants can submit their expressions of interest by October 4 to the Ministry of Environment and Energy.