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Neoen confirms 65-MWp solar award in Portugal

Neoen's Cestas solar park. Photo by: Neoen (www.neoen.com).

August 13 (Renewables Now) - French renewables developer Neoen confirmed it has won a 65-MWp solar project in the recent tender in Portugal, saying it expects to start construction work in 2021.

The company said in a statement that the particular project, located close to the town of Rio Maior, is at a very advanced stage of development. The plan is to complete the facility in early 2022 and generate about 130 GWh a year.

The project has secured a 15-year power purchase agreement (PPA) with the government of Portugal at a non-inflated price of EUR 23.47 (USD 26.28) per MWh. This represents one of the highest tariffs awarded in the tender.

As previously announced, a total of 25 projects across 24 lots were allocated 1,150 MW of nominal power in the particular tender, held last month. The lowest price bid of EUR 14.76/MWh was submitted by a local unit of Akuo Energy SAS. The French company was awarded 370 MW of solar capacity in total.

(EUR 1.0 = USD 1.120)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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