Portugal with solar auction “new world record”

in Green · 28-08-2020 01:00:00 · 0 Comments
Portugal with solar auction “new world record”

The Minister of the Environment has announced that the solar auction at which 670 megawatts (MW) were awarded broke “a new world record” with the price of €11.14 MW-hour (MW/h), in the fixed price mode.

“The auction was in fact a success, even greater than the auction that took place a year or so ago [...] We set a new world record, which was achieved from an absolutely transparent auction,” announced the Minister of the Environment and Climate Action, João Pedro Matos Fernandes, at a press conference in Lisbon.

According to the ministry, the company Hanwha Q-Cells was the “big winner” of this second solar auction, which took place on 25 August, both in number of lots (six) and in adjudicated capacity (total of 315 MW).

Matos Fernandes said that with this auction, there will be gains in the order of €559 million for customers over 15 years. This corresponds to a unit gain of around €833,000 for each MW awarded (15 years), which represents an increase of around 80 percent over the unit gain obtained in the 2019 auction (around €464,000 for each MW awarded), the ministry explains.


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