Portugal’s 700MW solar auction

Less than a year has passed since Portugal's first ever photovoltaic (PV) solar auction was launched.

The procedure gathered the interest of major international players with 64 bidders and a demand 9x higher than offer and was labelled as a success with circa 1.29 GW awarded (out of the available 1.4 GW split between 24 injection points), 13 different winners and an average value of €20.4 MW/h, i.e., less than half of the set maximum (45 MW/h), it being one of the lowest in Europe (having set a world record bid of €14.76/MWh).