May 25 (Renewables Now) - Spain will hold very soon another renewable energy auction of up to 3 GW, inspired by the success of last week's tender, according to a statement today from the country's energy ministry.
The new auction, to be conducted before the summer, was announced by Spain's prime minister Mariano Rajoy during the opening of discussion days focused on the development of the Law on Climate Change and Energy Transition.
The ministry said that the past auction has shown that renewable technologies are competitive at current market prices. The winners had offered the maximum discount allowed, meaning that the awarded projects will not need payments above the income they get from market in the scenario of average reference prices.
The new auction will be open to wind and photovoltaic (PV) projects. Wind accounted for almost all of the 3 GW awarded last week.
The ministry said the new auction is another step towards achieving the country's 2020 environmental targets.