Solely 50 MW awarded in Spain’s 3.3-GW renewables public sale

November 23 (Renewables Now) – Spain’s renewables public sale on Tuesday that was alleged to award 3,300 MW of wind and photo voltaic capability resulted in a fiasco with solely 50 MW of initiatives successful because of the authorities’s low ceiling value, Spanish media reported citing sources inside the business.

The Spanish authorities capped the value at round EUR 45 (USD 46.36) per MWh, giving members room to bid beneath that, however most of them priced their initiatives at round EUR 60/MWh on common, early stories state.

The Spanish ministry for the ecological transition, which runs the public sale, is but to launch the official outcomes. In accordance with some sources, Spanish renewables agency Forestalia and Madrid-based Elawan Power, which is controlled by Japan’s ORIX Company (TYO:8591), ended up being the one winners, splitting 50 MW of wind energy.

The renewables public sale held in October had comparable pricing points, closing with 177 MW of awards out of 520 MW that had been provided. The ministry’s ceiling value for concentrated solar energy was deemed too low for bidders on this know-how, who left the competitors with no awards.

For the November spherical, the ministry offered 1,800 MW of photo voltaic PV and 1,500 MW of wind energy. Contributors had been to formulate their affords underneath the pay-as-bid pricing guidelines, with initiatives protecting some publicity to market costs. The pay-as-bid contracts for wind and photo voltaic have a time period of 12 years.

It is a creating story. Renewables Now will launch an replace as soon as the official outcomes develop into out there.

(EUR 1.0 = USD 1.030)

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