The energy ministry is striving to stage a first RES auction featuring a new support framework before August, the most likely period being late July, and, as a result, is currently preparing a second ministerial decision needed for the procedure to be staged, energypress sources have informed.

This second ministerial decision will include details on total capacity to be auctioned annually, number of auctions per year, their scheduling, starting prices, minimal levels of bidding competition required, as well as the level of maturity projects must have achieved to be considered eligible for auction participation.

RAE, the Regulatory Authority for Energy, has been informed of all the related details and is working on the first auction’s official announcement. As a result, Once the ministerial decision is published, RAE should be ready to immediately announce the first RES auction.

The inaugural auction will offer RES investors behind new projects tariffs for 1,000 MW.

The old bidding system will continue to apply, meaning bidders will not face restrictions on the number of bids they can submit for tariffs, energypress sources informed. However, thoughts for a one-bid system will be reexamined at a latter stage, the sources added.

Energy minister Kostas Skrekas has noted the ministry intends to stage an additional RES auction, under the new support framework, in 2022, also for a total capacity of 1,000 MW. However, it remains unclear if there will be enough time for the extra session before the year is out.