Blog Archives
-|| Official & final results of the 1st standalone BESS auction in Greece (successful bidding prices) ||-
The 1st auction for standalone (FtM) BESS projects in the Greek market was held from June 17, 2023 to July 10, 2023. The official results of the aforementioned auction for Front-the-Meter (2-hour) Energy Storage projects were announced by the competent Regulatory Authority for Waste, Energy and Water (RAWEW) on Thursday, August 10, 2023 according to the envisaged timeline.
________________________________________________________________________________________________________
Key data/results
|> Lowest Successful Bidding Price: €33,948.00/MW/yr
|> Highest Successful Bidding Price: €64,112.00/MW/yr
|> Total Awarded Capacity: 411.79 MW
|> Total Capacity of the Participants: 3,299.55 MW
|> Oversubscription: >8.0x
|> Weighted Average Price of Successful Bids: €49,748.18/MW/yr
________________________________________________________________________________________________________
Selected BESS projects and corresponding project companies
1) | 100 MW (50 MW, 25 MW, 25 MW) held by Helleniq Energy |
2) | 98 MW (50 MW, 48 MW) held by PPC |
3) | 100 MW (50 MW, 25 MW, 25 MW) held by Intra Energy (Intrakat) |
4) | 48 MW held by Aenaos – Energy Systems (Mytilineos) |
5) | 7.8 MW held by Energeiaki Techniki Anaptyxiaki SA |
6) | 49.99 MW held by Energy Bank I PC |
7) | 8 MW held by an Energy Community |
________________________________________________________________________________________________________
It is mentioned that RAWEW had set the ceiling at €115,000.00/MW/yr. The participants submitted their bids for 10-year Contracts for Difference (CfDs) for revenues from their future Battery Energy Storage Systems. The selected investors will also gain from grants the amount of €200,000.00/MW (on CapEx) to build their projects.
The developers were obligated to submit a Letter of Guarantee (LoG) of €35,000/MW in order to participate in the tender, as well as a LoG of €250,000/MW for the timely completion and a LoG of €200,000/MW for the proper operation of their installations.
_________________________________________________________________________________________________________
| Future plan for BESS auctions in the Greek market |
Greece is planning two (2) addditional FtM BESS auctions within 2023. The 2nd auction is expected to be held in September for 300 MW. The 3rd bidding is scheduled to take place by the end of the year for additional 300 MW, bringing the total awarded capacity for BESS auctions this year to 1 GW.
According to the draft National Energy and Climate Plan (NECP) of Greece, the target for 2030 is at 2.5 GW of installed capacity for pumped hydro projects and a whopping installed capacity of 5.6 GW for BESS projects, contributing in the management of increased RES intermittency.
The BESS auctions are expected to pave the way for similar auctions from the Regulatory Authority for Waste, Energy and Water (RAWEW) as regards RES projects with embedded (Behind-the-Meter / BtM) BESS i.e. collocated RES+BESS projects, based on the Official Government Gazette under the nr.: 3328/ B’/May 19, 2023.
Moreover, the new round of RES (Wind+PV) auctions will be carried out in October 2023. The call for auction is expected to be published within September. The auctioned capacity is expected to be 1,662 MW. The regular capacity will be 1,200 MW, however will be transferred additional capacity of 462 MW that had not been awarded due to limited participation in the previous auction as of September 2022.
- Reference (Ceiling) Price for PV projects >1MW: €54.00/MWh
- Reference (Ceiling) Price for Wind projects >6MW: €63.00/MWh
As of December 2022, there is strong potential for additional RES generation capacity, of 7.9 GW for PV energy and 4.8 GW for Wind energy (2.9 GW for onshore Wind energy and 1.9 GW for offshore Wind energy) according to the 2030 targets set in the draft National Energy Climate Plan (NECP) as of August 2023 which is under consultation. Core to reaching said targets, considering the current power grid congestion, is the development of energy storage systems, either in the form of stand-alone batteries (FtM) or jointly with generation from RES (RES+BESS i.e. BtM) in the same area. In specific, the total installed capacity of batteries is expected to reach 3.1 GW by 2030, according to draft NECP targets.
__________________________________________________________________________________________________________
The detailed official results of the aforementioned 1st BESS auction (Decision Nr. E-130/2023 of the RAWEW available in GR) in Greece are as follows:
The views reflected in this article are the views of the author and do not necessarily reflect the views of the global EY organization or its member firms.
-|| RES Auctions as of Sep. 05, 2022 in Greece_|_Electricity prices for PV & Wind investments_|_Key Results and Brief Analysis ||-
New RES auctions held in Greece for RES (PV and Wind) Projects.
Greece held its latest round of (common) RES auction on September 05, 2022. Particularly, a capacity of 538.41 MW of PV and Wind investments was allocated (upon successful bids).
A total of 21 participants (RES projects totaling c.a. 960 MW) submitted bids. The energy/electricity prices (tariffs/FiP-CfD) ranged from €46/MWh to €60/MWh, while the weighted average was €47.98/MWh for PV projects and €57.66/MWh for Wind projects. The overall weighted average for both PV and Wind Projects was €50.97/MWh.
The high level of competition and the simplification of the licensing process were the main factors for the record low auction RES prices.
The results of the recent Greek RES auction are in line with results seen in tenders in other countries in Europe and globally.
The detailed official results of the aforementioned RES auction (Decision Nr. 691/2022 of the Regulatory Authority for Energy/RAE available in GR) are as follows:
[!] GREECE in 2019: On the path to an Economic Take-Off -|- Greece’s economy will grow at its fastest pace since 2007 [!]
[!] I am sending you from the bottom of my heart 2019 warm wishes for an extremely prosperous, dynamically productive, healthy, blissful, delightful, creative, highly promising and inspirational new year [!]
|> After a long period of financial crisis and unprecedented recession (decrease of GDP or almost zero GDP growth rate from 2008-2016, GDP growth rate in 2017: +1.5%, GDP growth rate in 2018: ≈+2.0%) and demographic collapse, I strongly believe that 2019 will be the beginning of a new Greek Economic Miracle, an Economic Take-Off, an Investment Shock and a long-term turnaround story for Greece’s emerging economy and real market with highly positive GDP growth rate of about +2.5% which will be the fastest pace in eleven (11) years (since 2007!).
The worst (i.e. grinding austerity, savage spending cuts and misery for millions of Greeks) is over and in 2019 will be a year of a strong GRecovery (after a smooth and relatively remarkable economic recovery of 2017 and 2018, respectively). Particularly, the Greek economy will pick up as it emerges from its third bail-out, with tourism receipts and retail sales offsetting the damage from fiscal restraint and unsteady trade. Furthermore, the implementation of significant Energy and RES (Wind and PV) projects as well as enormous infrastructure investments will boost the economic growth in 2019.
Long-suffering Greeks have been given a beacon of hope and Greece will continue to take the necessary measures in order to rebuild confidence. It is worth mentioning that according to the IMF Greece’s GDP will grow by +2.4% in 2019.
Νew great investment opportunities will arise in the next years from several economic sectors of the Greek market like Greek RES Market (Large-scale Wind and PV projects), Energy Sector, Tourism, Construction Industry (See the Hellinikon Mega Project | An investment of about 7 billion euros: The Hellinikon Mega Project), Maritime Sector, Research and new Technologies, Capital Market (via Athens Stock Exchange/ASE), Agricultural Sector and Logistics.
Τhe coming economic GRestart, GRecovery, GRinvest, upGRade & GRowth will be very stronger than expected and the Greek brain drain (-) can be converted into a Greek brain gain (+) within a reasonable period of time.
~|Greece’s Economic Slump|~ (A personal independent opinion)
In our debt-choked and totally (economically, socially and demographically) imploding mother country; the competent politicians have to focus on the real economy instead of only the fiscal-accounting and monetary indices. In other words, it is not worth taking into account the fiscal indices of an economy if its market and the real population have absolutely collapsed.
In my humble opinion, the case of Latvia which achieved a remarkable degree of fiscal consolidation (after a really tough austerity program) without taking into consideration the unprecedented demographic catastrophe in the general population which dropped by 12% within just 10 years (from 2.35 mil. in 2001 to 2.07 mil. in 2011, a real national disaster!) should strongly be an example to avoid for Greece and its 10.8-million population.
Besides, it is almost impossible for a market without a strong demographic potential to get a significant, healthy and mainly sustainable growth.
[(Nominal GDP growth rate at constant prices 2005_(official data)]:
2006 –> +5.53%
2007 –> +3.63%
______________
2008 –> -0.20%
2009 –> -3.18%
2010 –> -4.85%
2011 –> -7.15%
2012 –> -6.38%
2013 –> ??? (6th consecutive year of recession)
{Absolute-Unprecedented National Disaster}
Updated Forecasts by European Commission (published on May, 2013)
2013 –>≈ -4.20%
2014 –>≈ +0.60%
Postscript: “When I die, do not come near my body, because my hands may not be able to wipe your tears anymore”. (!) I’ll just keep on loving you no matter what happens… Even after death (!)
Official Resident Population of Greece: 10,815,197 (Final 2011 Census Results)
(!) WORTH READING (!)
“The Official Resident Population of Greece stands at 10,815,197 according to the Final Results of last year’s Population and Housing Census (May 2011), announced by the Hellenic Statistical Authority yesterday (December 28, 2012). Unfortunately, the UNBELIEVABLE and UNPRECEDENTED Demographic Collapse was officially confirmed”.
Resident population 2011 (+immigrants): 10,815,197.
Resident population 2001 (+immigrants): 10,934,097.
Increase rate: -1,0874%
You can find the detailed results of the Resident Population to the level of Municipality and for every administrative division of the country down to the level of “oikismos” (read the related link-Excel file) at the following address:
Particularly, there is all the official information about the resident population as it was announced by the Hellenic Statistical Authority at the levels of Region, Regional Unit, Municipality, Municipal Unit, Local Unit and housing estate.
It is important to mention that the Resident Population of Greece is considered as the official population of the country and according to that number (10,815,197) will be calculated all the related macroeconomic and social indices, data and statistical information (electricity, energy demands etc.).
UNBELIEVABLE demographic collapse in Greece!
“UNBELIEVABLE demographic collapse in Greece! Greece’s official and legal population stands at 9,903,268 according to the results of last year’s census (May 2011), made public by the Hellenic Statistical Authority (ELSTAT) yesterday, (July 31, 2012)”. Legal (and official) population 2011: 9,903,268 Resident population 2011 (+immigrants): 10,787,690 Legal population 2001: 10,206,539 Resident population 2001 (+immigrants): 10,934,097