Lower prices prompted by aggressive bidding at Greece’s second RES auction for the year yesterday, offering capacities to investors for new projects, can be interpreted as a vote of confidence by investors, local and foreign, for the Greek economy and RES sector.

The session’s lower prices, which reached levels of major European markets, also reflect an anticipation of further RES equipment cost reductions and higher facility yields.

The biggest price drop was produced by the auction’s third category, offering capacities for wind energy installations of between 3 and 50 MW, where the lowest price registered was 55 euros per MWh and the highest 65.15 euros per MWh, according to sources.

Prices for this category ranged between 68.18 and 71.93 euros per MWh at the previous RES auction, held in July.

Successful bidders in this category included Terna, Rokas, Portugal’s EDPR, Volterra and Ostria. Representing 14 projects with a total capacity of 281.65 MW, they vied for 160.94 MW. Bidding for the category started at 79.77 euros per MWh.

In the category for small-scale photovoltaic installations of up to one MW, the lowest price was 64 euros per MWh and highest 69 euros per MWh. Bidders representing 180 projects with a total capacity of 102.19 MW contested for 61.95 MW at a starting price of 81.71 euros per MWh.

Prices for this category ranged between 75.87 and 80 euros per MWh at the previous RES auction.

In the session’s other category, offering capacities for larger-scale PV installations of between one and 20 MW at a starting price of 71.9 euros per MWh, bidders representing a large proportion of projects totaling roughly 35 MW secured capacities at prices of approximately 63 euros per MWh, sources informed.

Investors representing 27 projects with a total capacity of 151.32 MW contested for 86.47 MW in this category.

The Solar Cells group acquired capacities for four projects at elevated prices, while PPC Renewables secured satisfactory price levels of just below 70 euros per MWh, sources noted.

Prices for this category ranged between 62.97 and 71 euros per MWh at the previous RES auction.