Portugal reaches record-low price in 1.4-GW solar tender

Solar farm in Portugal. Author: Hugo Cadavez.

July 31 (Renewables Now) - Portugal's 1.4 GW solar energy auction was heavily oversubscribed and achieved an average price of EUR 20 (USD 22.3) per MWh, the government announced on Tuesday.

One of the licenses reached the record low price of EUR 14.76 per MWh, the Secretary of State for Energy, Joao Galamba, told Reuters.

The ceiling price in the tender was EUR 45 per MWh.

In all, the tender attracted 64 bidders, of which 13 won contracts. The government said that Spain’s Iberdrola SA (BME:IBE) managed to secure the largest number of lots, while French renewables developer Akuo Energy SAS won the most capacity at 370 MW.

The government expectations were exceeded both in terms of bidding volume and of price, said energy minister Joao Pedro Matos Fernandes.

(EUR 1 = USD 1.12)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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