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Greece awards 277 MW in inaugural renewables tender

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Greece awards 277 MW in inaugural renewables tender


July 5 (Solar) – Greece completed on July 2 its first renewable energy auction, awarding about 277 MW of capacity.

The auction, conducted by the Regulatory Authority for Energy (RAE), had three categories – photovoltaic (PV) power plants of up to 1 MW; PV plants of between 1 MW and 20 MW; and wind power plants of between 3 MW and 50 MW.

Greece at the end of April said it would auction up to 300 MW of wind and up to 300 MW of solar power capacity on July 2. Following the receipt of offers and taking into account a 75% oversubscription rule, the available capacity was set at 53.52 MW for the first category, 53.40 MW for the second and 176.39 MW for the third.

The results of the tender, announced on Wednesday, are in the table below.

Category Capacity awarded  Weighted average price  Starting price
Up to 1 MW PV 53.48 MW EUR 78.42/MWh EUR 85/MWh
1 MW-20 MW PV 52.92 MW EUR 63.81/MWh EUR 80/MWh
3 MW-50 MW wind  170.92 MW EUR 69.53/MWh EUR 90/MWh

The lowest bid was EUR 62.97 (USD 73.6) per MWh, achieved in the second solar category, for the larger PV plants. 

Greek energy and environment minister George Stathakis said the auction led to a price reduction for PV projects of about 20% compared to the 2016 pilot tender and more than 35% for wind projects.

"In upcoming competitions in the coming months, we expect further cost reduction, given the strong interest from both domestic and foreign investors," the minister said. According to Stathakis, the auction showed that it is possible to lower the environmental footprint without placing a significant burden on energy costs.

EDP Renovaveis SA (ELI:EDPR) announced on Wednesday it has been awarded a 20-year contract for difference (CfD) for a 45-MW wind project in the Greek tender.

(EUR 1 = USD 1.169)


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