‘Record’ prices reported as Portugal’s PV auction nears conclusion

The reports of Portuguese bidding prices of €20/MWh have been described as a European record-setter (Credit: WElink)

Portugal’s first-ever solar auction has triggered prices likely to break European records, the country’s media has reported one week before the results are known.

On Friday, outlet Expresso claimed bids of €20/MWh (US$22.25/MWh) have been tabled for the 1.4GW PV tender that opened this summer, down from ceiling prices of €45/MWh (US$50/MWh).

EDP, Galp, EDF, Iberdrola, Voltalia, Finerge all applied for support from the tender, the Expresso reports added.

The reports pile further anticipation on a highly oversubscribed auction, with 64 PV finalists submitting earlier this month bidding volumes – 10GW – nine times the tender’s size.

The 64 solar schemes were pre-selected from the hundreds that put themselves forward when the tender launched, forcing the government to extend the bidding period by one week.

Approached by PV Tech, a spokesperson from Portugal’s Environment Ministry declined to comment on the €20/MWh reports, described by international outlets as a European record-breaker.

The full results, the spokesperson added, will be known when the auction concludes next week.

The tender is part of Portugal’s campaign for a solar boom, with plans to push installed PV capacity from 572MW (2018) up to 1.6GW (2021) and 8.1GW-9.9GW (2030).

The tender is processing bids under two modalities – with and without a fixed price – to cater to early-stage projects but also mature, PPA-successful schemes.

As PV Tech has witnessed, the dual design has not impressed all, amid warnings in the developer ranks that the second modality may result in “speculative” bids from players with still-hazy projects.

Should the €20/MWh expectations materialise, Portuguese PV would still see itself outcompeted by its Brazilian counterpart, with a tender this summer producing prices of around US$17.5/MWh.

14 September 2022
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!
29 November 2022
PV ModuleTech EMEA in Madrid on 29-30 November 2022 will address the factors underpinning the changing PV module landscape, gathering together all the key stakeholders across the value-chain from module production to field testing. Join us for presentations from the leading players in the sector, clearly identifying the opportunities and challenges set to impact module supply to Europe and the Middle-East over the next few years.

Read Next

August 10, 2022
Iberdrola has commissioned the 590MW 'Francisco Pizarro' PV project in Extremadura Southwestern Spain, which is Europe’s largest solar plant.
August 9, 2022
The Public Service Commission of the District of Columbia (DCPSC) has approved a 15-year power purchase agreement (PPA) with renewables developer Invenergy for 73MW of solar power to meet a 5% renewables target for district’s default electricity supply.
August 8, 2022
Energy technology company AES Corporation is still on track to reach its target of 4.5-5.5GW in long-term renewables and energy storage contracts in 2022, having already signed 1,618MW in the year to date, according the firm’s Q2 financial report.
August 2, 2022
The building-integrated PV (BIPV) market is expected to reach US$94.4 billion by 2031, up from US$11.7 billion recorded in 2021.
August 2, 2022
Spanish utility Iberdrola has entered into an agreement for the acquisition of 98MW of solar and wind projects in Poland with Augusta Energy.
July 28, 2022
Iberdrola has recorded a profit of €2.07 billion in H1 2022 with strong performances in its international business offsetting adverse results in Spain.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event