RES auction for large-scale wind and solar energy projects in Greece, scheduled for September, will offer a capacity of 1,662 MW. It should consist of 1,200 MW planned for this auction plus 462 MW left over from the previous auction.
21 projects secured a capacity of 538 MW from 1,000 MW offered at an auction held in September 2022. If competition rules are maintained for the upcoming RES auction, the participants will need to represent a total of 2,992 MW, or 80% over the 1,662 MW total, for the full amount to be made available.
It is highly doubted that the participation level will be that high. If so, a RES auction capacity will be left over for a second year running. This prospect has been largely attributed to the fact that investors behind a big portion of large-scale RES projects are preparing to establish PPAs. Subdued starting prices set for this RES auction, a mixed session with wind and solar energy projects, have been cited as another key factor likely to limit the auction’s level of participation as higher equipment and borrowing costs have not been taken into account.
The starting price for solar energy projects has been set at 54 euros/MWh, while the price for wind farm projects will start at 63 euros/MWh, the same levels offered at last September’s auction.