UPDATE - Spain awards over 5 GW in latest renewables auction

Spain awarded 5,037 MW of capacity in its renewable energy auction, the energy ministry announced on Wednesday.

Photovoltaic (PV) projects were the biggest winners with 3,909 MW awarded. Wind power contracts amounted to 1,128 MW. Overall, the tender distributed contracts to 40 different companies, confirming the interest of national and international investors in renewable energy in Spain, the ministry said.

Technologically neutral, this auction awarded contracts to the best offers. The prices were negotiated at the maximum discount and, therefore, at no additional cost to the electric consumer.

Reuters reported yesterday that Grupo Cobra, part of Spanish builder ACS (BME:ACS), has won 1,550 MW of solar photovoltaic (PV) capacity in the tender. The list of winners also includes Endesa (BME:ELE), X-Elio and Forestalia, among others.

Together with the May auction, Spain has secured a total of 8,037 MW of new renewable power this year, of which 3,910 MW is solar, 4,107 MW comes from wind and 20 MW corresponds to other technologies. This diversity guarantees a balanced mix, the ministry noted. All plants have to be online by 2020.

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