Japan's Green Investment Promotion Organisation has announced the results of its latest auction for utility-scale solar energy projects (20th auction), in which 93 MW of solar PV capacity was awarded. The auction was slightly undersubscribed as it originally planned to award 122 MW of generating capacity.
The 47 selected projects range in size from 300 kW to 19.5 MW. The lowest bid was JPY4.5/kWh (US$2.9c/kWh) and was submitted by Japanese oil company Eneos for a 1.99 MW project. The highest bid of JPY8.8/kWh (US$5.8c/kWh) was submitted for a 9.5 MW project. The average final price came in at JPY6.8/kWh (US$4.5c/kWh).
All of Japan’s recent solar auctions have been undersubscribed. The country awarded only 16 MW in the 15th auction (March 2023), 120 MW for the 16th (July 2023), 69 MW for the 17th auction (August 2023), 105 MW for the 18th (November 2023) and 134 MW for the 19th auction in March 2024.
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