Japan allocated 56.4 MW of PV capacity in its latest tender process. The lowest bid was JPY 7.5 ($0.049)/kWh, while the average final price was JPY 8.17/kWh.
Japan’s Green Investment Promotion Organization has final results of the latest auction for large-scale solar energy projects.
The state agency said so 56.4 MW of PV projects were selected during the tender procedure. It was Japan’s 22nd utility-scale solar auction and was expected to allocate 93 MW of generation capacity.
The 23 selected projects range in size from 300 kW to 19.5 MW.
The lowest bid was JPY 7.5 ($0.049)/kWh and was submitted for three projects. The highest bid of JPY 9.04/kWh was submitted for a 750 kW project. The average final price was JPY 8.17/kWh.
In the last eight auctions, the final average price ranged from JPY 4.5/kWh to JPY 9.73/kWh.
In the previous auction round, held in September, the Japanese authorities allocated 33.6 MW of PV projects at an average final price of JPY 8.08/kWh. The lowest bid was JPY 5.0/kWh
In the twentieth round, Japanese authorities allocated 93 MW of PV, with final prices ranging from JPY 4.5 to JPY 8.8/kWh, with the average final price reaching JPY 6.8/kWh.
During the 19th exercise, which concluded in March, the Green Investment Promotion Organization allocated 134 MW at an average final price of JPY 5.11/kWh. During the 18th auction, which concluded in November 2023, Japanese authorities allocated 105 MW of PV capacity, with the lowest bid reaching JPY 7.94/kWh. In the 17th exercise, held in late August 2023, the lowest price was JPY 8.95/kWh, with 69 MW of allocated capacity.
During the 16th auction in July 2023, the allocated power was 119.7 MW and the lowest bid was JPY 9/kWh. In the 15th Solar Energy Auctionwhich was completed in March 2023, the Green Investment Promotion Organization has allocated only 16.2 MW of the 175 MW. The lowest bid offered during the auction was JPY 9.48/kWh and the average final price was JPY 9.56.
In the 14th exerciseheld in November 2022, Japanese authorities allocated 137.2 MW of PV capacity, out of the 175 MW tendered. The lowest bid was JPY 9.65/kWh and the average final price was JPY 9.73/kWh.
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