January 28 (Renewables Now) - Japan has picked solar projects totalling 39.8 MW in its latest solar tender, the fifth round of a larger procurement initiative, in which bids fell as low as JPY 10.99 (USD 0.10/EUR 0.09) per kWh.
Bids in the tender ranged between JPY 10.99/kWh and JPY 13/kWh, setting the average price of the proposals at JPY 12.57/kWh, the Ministry of Economy, Trade and Industry (METI) announced last week. The lowest offered price is a bit higher than the one in the previous auction of 10.50/kWh.
The tender, capped at JPY 13/kWh, targeted photovoltaic (PV) projects with capacities of at least 500 kW for a combined volume of 416.2 MW. The procurement initiative lured 72 proposals totalling 185.6 MW, while the number of successful projects was 27. Unlike the previous auction round that ended with the award of four large-scale projects of between 25 MW and 30 MW each, schemes with capacities of around 2 MW were the highlight of the fifth tender. The selected projects in it ranged between 792 kW and 2 MW.
Japan kicked off its solar tendering programme at the start of 2016 and intended to procure between 1 GW and 1.5 GW with the first three auctions.
(JPY 100 = USD 0.917/EUR 0.832)