Solar auction of 670MW establishes record price of €11.14 MW/h

– Text: aicep Portugal Global
– Photo: tongstocker1987

With 12 lots on auction this Monday and Tuesday, 13 contracts were awarded, with the storage attracting special interest from the promoters. All of them are foreigners.

The Minister of the Environment announced on Wednesday 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, both in number of lots (six) and in adjudicated capacity (total of 315 MW).

Matos Fernandes said that with this auction, gains for consumers in the order of €559 million in 15 years are achieved.

This corresponds to a unit gain of around €833,000 for each MW awarded (15 years), which represents an increase of around 80% over the unit gain obtained in the 2019 auction (around €464,000 for each MW awarded), the ministry explains.

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