At the third mixed RES auction held on 24 May, Greek Regulatory Authority for Energy (RAE) has awarded a total of 349.9 MW of solar capacity, with the prices reaching the lowest level of 32.97 euros/MW.
A total of 350 MW were offered at the auction and 2,188 bids were received. The ceiling price for both solar and wind categories was set at 53.86 euros/MWh, while bids ranged from 32.97 to 51.2 euros/MWh. The weighted average price stood at 37.6 euros/MWh. It is interesting that only bids for solar projects were successful. The lowest bid was placed for a 19.3 MW solar project by domestic construction company Egnatia Group.
Following the auction results, Greek Minister of Energy and Environment Kostas Skrekas expressed confidence that the country can hit its target of generating at least 61 % of its electricity mix by renewables by 2030. He also remarked that the auction prices that enable solar investments at one third of the lignite power plants, show that Greece’s coal phase out makes economic sense. In April 2020, Greece awarded a total 502.94 MW of wind and solar capacity in a mixed RES tender.
