Renewables

Greece awards nearly all wind, solar capacity at auction as prices drop

Greece wind solar capacity auction prices

Photo: Unsplash

Published

July 28, 2020

Country

Comments

comments icon

0

Share

Published:

July 28, 2020

Country:

Comments:

comments icon

0

Share

Households and companies in Greece may see a decline in electricity tariffs after the latest auction of solar and wind capacity. Regulators accepted offers from power plant operators for a total of 141.9 MW and 471.8 MW, respectively, and the bidding brought lower power prices.

The Regulatory Authority for Energy – RAE said this year’s first separate electronic auctions for renewables were a great success at the benefit of consumers and the economy. The panel running the process in Greece added it accepted offers for 141.9 MW in solar power plants in the category up to 20 MW each and 471.8 MW in wind power capacity for facilities planned for a maximum of 50 MW apiece.

Prices drop 20.9% for wind power, 11.6% for photovoltaics from starting level

Only 515 kW and 9.6 MW, respectively, remained unallocated. The weighted average price for photovoltaics came in at EUR 49.81 per MWh or 20.9% under the starting level. Participants drove the wind power benchmark 11.6% lower to EUR 55.67 per MWh.

It compares to EUR 59.98 and EUR 55.77, respectively, from the equivalent auction back in December. The one in April, which was mixed, resulted in an average fixed tariff of EUR 52.02 per MWh. The solar part was EUR 51.37 and only one unit in the wind power segment in Greece was accepted, at EUR 54.64 per MWh for 153 MW in capacity.

RAE selects 39 solar, 15 wind power projects

A total of 52 photovoltaic projects participated and 532 bids were accepted for 39 of them. Reference prices ranged from EUR 62.45 to EUR 45.84, a record low. The lowest accepted fixed tariff in April was EUR 49.11 per MWh and in December the minimum was EUR 53.82.

The photovoltaic segment registered a record low at EUR 45.84 per MWh

In wind power, 25 projects participated and 118 bids were accepted for the 15 that passed. The range was EUR 57.7 to EUR 53.86 compared to the only accepted bid of EUR 54.64 per MWh in April and the lowest accepted bid of EUR 55.77 per MWh from the December auction.

PPC Renewables’ 11 MW solar energy unit in a coal mine in Megalopolis in the Peloponnese was among those selected. It is within a 50 MW solar park project and the company may apply the target model for the remainder, which means it would seek bilateral power purchase agreements.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

belgrade energy forum bef 2025 western balkans region cooperation

BEF 2025: Regional cooperation can facilitate energy transition, energy security

22 May 2025 - Belgrade Energy Forum featured representatives from the governments of Montenegro, Croatia, Hungary, the Republic of Srpska, and Serbia, and from UNECE

new york equinor empire wind

Equinor resumes New York offshore wind project of 810 MW after stop-work order lifted

21 May 2025 - The project's first phase, the 810 MW Empire Wind 1, is expected to generate electricity for some 500,000 homes in New York

eu renewable green hydrogen subsidies

EU awards nearly EUR 1 billion in subsidies to renewable hydrogen projects

21 May 2025 - The subsidies for renewable hydrogen were awarded via the second auction organized by the European Hydrogen Bank (EHB)

Romania commission offshore wind study 3 GW 2035

Romania to commission offshore wind study, targeting 3 GW by 2035

21 May 2025 - Romania is receiving expressions of interest for a study identifying areas in the Black Sea for concessions for offshore wind farms