Spanish renewables auction secures lowest price of €0.01498/kWh

The Spanish authorities awarded about 2.04 GW of PV and 998 MW of wind capacity, out of a total allocation of approximately 3.03 GW. The average price for solar was €0.02447/kWh.

Image: ra_fus, flickr

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From pv magazine Spain

Spain's Ministry for the Ecological Transition and the Demographic Challenge (Miteco) has announced the final results of this week's renewable energy auction, with solar PV securing two-thirds of the total capacity allocations.

The Spanish government said that about 2.04 GW of capacity was awarded to PV developers, while wind farm developers took 998 MW, out of a total of 3.03 GW of capacity. The lowest bid for solar was €0.01498 ($0.018)/kWh, while the highest was €0.02890/kWh, with an average price of €0.02447/kWh. The lowest offer for wind power was €0.020/kWh.

The current minimum price is just one-third of what was paid in the renewables auction in 2017. The average price paid to all solar projects is 80% lower than the average price recorded in the 2017 auction. This is the lowest level registered in an auction in Spain for PV technology. However, the €0.01120/kWh level recorded in Portugal's most recent auction, or the prices seen in Abu Dhabi's auction last July, have not been exceeded. 

Portuguese utility EDP, Italy's Falck Renewables, and South Korea's Hanwha were the only international companies to secure projects in the Spanish auction this week. All of the other winning bidders were domestic companies, including X-Elio, Iberdrola, Endesa, Greenalia, Solaria Energía and Naturgy.

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