The Regulatory Authority for Energy (RAE) of Greece has closed a technology-competitive renewable auction for 508 MW that has attracted 44 bids ranging between €49.11/MWh and €54.82/MWh (average bidding price of €51.59/MWh, 16% below the capped price of €61.32/MWh). The RAE awarded incentive tariffs to five renewable power projects with a combined capacity of 503 MW. PPC Renewable was selected with a 200 MW solar project in Kozani (northern Greece) thanks to a record-low bid of €49.11/MWh.e. A 153 MW wind project proposed by Enteka in Vermio (northern Greece) was selected with a bid of €54.7/MWh, along with three solar projects: a 70 MW project by Eren at €50.68/MWh, a 42 MW project by EDF at €50.87/MWh and a 38 MW project by Spes Solaris (Panagakos group) at €54.82/MWh. Selected bidders will have to develop their projects within 36 months after the conclusion of the renewable auction.
Greece aims to raise its installed PV capacity from around 2.6 GW in 2018 to 7.7 GW by 2030. The first solar-plus-wind auction held in April 2019 was oversubscribed, attracting 638 MW bids compared to an initial 600 MW of capacity on offer. However, the July 2019 auction for 600 MW of solar and wind was undersubscribed, with RAE awarding only 54% of the initially-planned volumes (322 MW). In November 2019, the solar PV tender was undersubscribed, with 44 bids for 149 MW (half of the proposed capacity of 287 MW) and only 105 MW awarded, while the wind tender was largely oversubscribed with 16 bids for 491 MW, compared to 225 MW offered.
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