-|| RES auction prices (PV & Wind investments) in Greece on May 24, 2021_|_Key Results and Brief Analysis ||-

New RES auctions held in Greece on May 24, 2021 for RES (PV and Wind) Projects.

Greece held its latest round of RES (PV projects up to 20 MW and Wind Projects up to 50 MW) auctions on May 24, 2021. Particularly, a capacity of 350 MW of PV investments was allocated (upon successful bids) while Wind investments failed to win any capacity.

A total of 126 participants (RES projects totaling 1,090 MW) submitted 2,188 bids. The energy/electricity prices (tariffs) ranged from €0.03297/kWh to €0.0512/kWh, while the weighted average was €0.0376/kWh.

The high level of competition and the simplification of the licensing process were the main factors for the record low auction RES prices.

It is mentioned that the tender’s lowest tariff was awarded to a 19.3 MW PV project, which is set to be developed by the Greek company Egnatia Group SA. Overall, the said company which is part of Mytilineos Group, won around 130 MW of the awarded capacity. Moreover, Ecosolar won another 90 MW worth of PV capacity.

The aforementioned results of the Greek RES auction on May 24, 2021 are in line with results seen in tenders in other countries in Europe and globally, where PV projects also swept the board.

The detailed official results of the aforementioned RES auction (Decision Nr. 461/2021 of the Regulatory Authority for Energy/RAE available in GR) are included in the following link:

Official Results of the RES auctions in Greece as of May 24, 2021

It is worth mentioning that RES investors from PV and Wind sector are engaging in talks with electricity supply companies and industrial enterprises to establish in the future Power Purchase Agreements (PPAs) for their projects as they anticipate a reduction in capacities at forthcoming RES auctions and even lower energy prices (tariffs) than the low levels registered at the auction as of May 24, 2021.

Greece aims to auction a total capacity of further 2.1 GW of PV and Wind projects by 2024. 

-|| RES auction prices in Greece (PV & Wind) on July 27, 2020_|_Main Results and Brief Analysis ||-

New RES auctions held in Greece on July 27, 2020 for PV and Wind Projects.

As regards the PV Projects the auction’s highest bidding price was €62.45/MWh, while the average was €49.81/MWh. A total of 39 PV projects secured prices at the said auction.

“ABO Wind AG” was the most dominant bidder at Greece’s latest RES auction on July 27, 2020 securing approximately one third of the PV section’s total capacity for five (5) PV Projects (total capacity: 49.973 MW) in Prefecture of Thesprotia, Region of Epirus, NW Greece. The International Energy Company submitted the following auction’s bids: 45.84, 45.85, 45.86, 45.87 and 48.83 euros per MWh. It is mentioned that €45.85/MWh was the lowest bidding price at the auction.

As regard the Wind Projects the auction’s bidding prices ranged from €53.86/MWh to €57.70/MWh. A total of 15 Wind projects secured prices at the said auction.

It is worth mentioning that the Wind Projects secured a far greater total capacity than photovoltaics at the auction, 481 MW compared to 142 MW. Moreover, PV projects registered new record-low bidding prices for the Greek market.

You can find the official results of the aforementioned RES auction in the following link (Decision Nr. 1142/2020 of the Regulatory Authority for Energy/RAE available in GR): Official Results of the RES auctions in Greece as per July 27, 2020