Amp secures 14 MW in Japan’s first FiP auction

Image by Amp Energy (www.amp.energy)

July 15 (Renewables Now) - Toronto-based renewables and energy storage developer Amp Energy on Thursday said it has been awarded a 14-MW AC project in Japan’s inaugural feed-in premium (FiP) auction.

A total of five bids were successful in the tender, representing a combined capacity of 128.94 MW, the company added. They were selected out of 13 projects that competed in the tender.

Amp said it was awarded the second highest FiP price of JPY 9.88 per (USD 0.071/EUR 0.071) kWh.

Beginning in April 2022, the Japanese government is transitioning from a feed-in tariff (FiT) programme to a FiP, where renewable generators will be able to sell electricity in the spot market at a premium to wholesale prices. The move is aimed at increasing competition in the renewables sector, facilitating corporate power purchase agreement (PPA) options and alleviating FiT costs for consumers, Amp explains.

The company will use the FiP-backed project to provide clean energy to an offtaker under a PPA.

(JPY 1 = USD 0.007/EUR 0.007)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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