Solar energy projects are expected to dominate a combined RES auction planned for April 2 by RAE, the Regulatory Authority for Energy, reflecting heightened investment interest in the PV sector of late. The April session’s application deadline expires tomorrow.
The level of investor interest for solar projects had overshadowed that of wind projects at a recent inaugural combined auction.
The total capacity for solar energy project applications is expected to be big, especially if PPC Renewables submits an application for a 200-MW solar energy park plan in Kozani, northern Greece, as the firm had also done in the previous combined RES auction.
PPC Renewables is expected to submit an application for another of its project plans, a 50-MW solar energy plant in Megalopoli, Peloponnese.
RES project investors will be offered a total of 600 MW at April’s combined RES auction following a 100-MW capacity increase granted by the energy ministry.
However, this 600-MW will only be offered in full if application capacities exceed the tally by 40 percent for a total of 840 MW.
The April auction’s starting price has been set at 61.32 euros per MWh.
A number of combined RES auctions have been staged in various parts of Europe over the past couple of years, the objective being to cover energy needs at the lowest possible price.
The cost of PV equipment has fallen sharply and is continuing to fall, enabling PV auction participants to bid more competitively.
However, license procedure bureaucracy remains a problem, especially for wind projects, slowing down maturity. Greek market investors are waiting for the government to deliver on a promise to simplify RES licensing procedures.