The Greek Regulatory Authority for Energy (RAE) has issued the results of the country's first wind and solar auction. As announced in May 2018, this is the first step as part of its new strategy to auction 2.6 GW of renewable capacity by 2020.
20-year power purchase agreements (PPAs) have been awarded to 7 wind power projects totalling 171 MW (176 MW were offered). The bid cap price for the auction was initially set at €90/MWh and stipulated site capacities are expected to range between 3 MW and 50 MW. Successful bids ranged between €68.18/MWh and €71.93/MWh, while the weighted average bidding price stood at €69.53/MWh.
Solar projects could bid in two separate categories, for small-scale photovoltaic installations of less than 1 MW (starting price of €85/MWh) or for larger-scale PV installations between 1 and 20 MW (starting price of €80/MWh). A total of 83 projects below 1 MW totalling 53 MWp qualified for the auction’s first category and the lowest bid stood at €75.87/MWh (average bidding price of €63.91/MWh). Eight projects totalling 53 MWp were selected for the second category, with the lowest bidding price at €62.97/MWh).