The latest auction for contracts and operation of new solar plants in Portugal registered a record price of US$0,0131 / kWh. According to the Portuguese government, it is the smallest offer in the world for a large-scale photovoltaic project.
The previous record, of US$0,0135 / kWh, was held by Al Dhafra project in Abu Dhabi in April. Also according to the government, the tariff registered this month in the country is around 25% lower than the lowest proposal presented in Portugal's first photovoltaic tender last year, which was €14,76 / MWh (US$16,44, with based on exchange rates at the time).
Of the 700 MW available for auction, 670 MW were awarded, with South Korean solar panel manufacturer Hanwha Q Cells winning half of the 12 lots, winning 315 MW. Other winners include Spain's Iberdrola, the Endesa group, with one batch of projects each, and Germany's TAG Energy, with two batches.
“We are on track to reach 2030 with 80% of the energy we consume produced by renewable sources. The auctions show that this is a clear and positive way to generate gains for consumers”, said João Pedro Matos Fernandes, Minister of the Environment of Portugal.
According to João Galamba, Secretary of State and Energy of Portugal, the results show that the country is among the most competitive in the world in terms of solar energy. “What happened is historic,” he highlighted.
The government of Portugal stated that the photovoltaic energy auctions were held to create new business opportunities and promote a reduction in the cost of electricity. Taxpayers will save €559 ($665 million) over the next 15 years as a result of the auctions.
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