RES auctions seen offering 2,600 MW between 2018 and 2020, starting June

A total capacity of 2,600 MW will be offered at wind and PV energy RES auctions between 2018 and 2020, according to a proposal prepared by RAE, the Regulatory Authority for Energy, based on a new EU framework for renewable energy requiring auctions.

RAE is aiming for greater grid penetration by the RES sector, which would help the country achieve its CO2 emission targets, and a minimalization of renewable energy costs, covered by consumers through the RES-supporting ETMEAR surcharge, RAE official Dionysis Papahristou told a conference held yesterday by the authority.

A pilot auction staged a little over a year ago, offering photovoltaic capacity, was instrumental in the shaping of the new RES auctions, the RAE official noted. Prices were driven extremely low, for Greek standards, while all quantities offered were taken up, he added.

Offering further details on the pilot auction, Papahristou informed that 13 participants submitted a total of 35 bids in a category for projects of less than 1 MW. The bidding here was mild and prices reached 98.98 euros per MWh.

Fierce bidding competition took place in a seperate auction for projects of more than 1 MW. A total of 12 participants submitted 435 bids, averaging one every three seconds, for prices as low as 83.3 euros per MWh.

RAE is closely monitoring the progress of projects that acquired capacities at the pilot auction. Satisfactory progress is being made, the RAE official said.

As for the upcoming full-scale RES auctions, RAE will implement measures aiming to generate fierce competition, including an auction term requiring investors to submit bids for amounts exceeding total capacities on offer by at least 80 percent if planned capacity amounts are to be offered.

RAE is headed towards establishing three auction categories, one for PV projects of less than 1 MW and a starting price of 95 euros per MWh; another for PV projects between 1 and 10 MW and a starting price of 85 euros per MWh; and a third auction category for wind energy projects with capacities between 3 and 50 MW and a starting price of 95 euros per MW.

RAE believes the first of these new RES auctions may be held in early June. The energy ministry needs to pave the way by signing a related ministerial decision.

A second auction for major-scale projects is expected to follow in August. Installation capacities for PV projects of more than 10 MW and wind energy projects of over 50 MW will be included.

The RAE plan is expected to include 300 MW for wind energy installations and 300 MW for photovoltaic capacity, annually, in 2018 and 2019.

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Source: RES auctions seen offering 2,600 MW between 2018 and 2020, starting June

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