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Japan's sixth solar auction awards 369 MW with lowest bid of US$9.5c/KWh

16 Nov 2020

The Ministry of Economy, Trade and Industry (METI) of Japan has selected 255 bids with a total capacity of 369 MW in its sixth auction for solar projects of 250 kW capacity or more. Initially, more than 750 MW was offered in the auction, which had a ceiling price of JPY12/kWh (US$11.4c/kWh). The lowest offered price reached JPY10/kWh (US$9.5c/kWh), down from JPY10.99/kWh in the 5th auction (January 2020), JPY10.50/KWh in the 4th auction (summer 2019), JPY14.25/kWh in the third auction (January 2019) and JPY16.47/kWh in the second auction (September 2018).

In the government’s latest Energy White Paper (2020), renewables are recognised as a major energy source for Japan’s future. The plan aims to raise the share of renewables in the power mix to 22-24% (including hydropower) in 2030, with plans to make renewables Japan’s main power source by 2050. FiTs for solar PV were removed in February 2020 for large scale projects (>250 kW) and replaced by a tendering program initiated by the METI.

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