31 July 2020
Record low price in latest Greek onshore wind auction
In its latest onshore wind auction, Greece awarded 20-year contracts for more than 472 MW of wind projects, including one at a new record low price. The Greek developer Ascent Power submitted the lowest ever bid in a Greek onshore wind auction with €53.86/MWh. This bid continues the latest cost reduction trend: the previous record had been set in a wind energy tender earlier this year.
With a total of 15 projects awarded, the prices of all successful bids ranged between €53.86/MWh and €57.70/MWh with a weighted average of €55.67/MWh. In terms of geographical distribution, most capacity was awarded to Arcadia in southern Greece (102 MW), followed by Boeotia in central Greece (94.5 MW), and Kozani in the north (81.6 MW).
There was much interest in the tender round. A total of 25 projects with 748 MW bidding into the round meant a higher level of competition than in previous tenders.
According to WindEurope’s latest publication “The impact of COVID-19 on Europe’s energy sector” Greece installed 287 MW of new capacity in the first six months of 2020. Total installations now stand at 3.9 GW. More than 14% of Greek electricity demand was covered by onshore wind in the first half of the year. According to its National Energy and Climate Plan (NECP) Greece aims to increase its wind energy capacity to more than 7 GW and to reach a 35% share of renewables in final energy consumption by 2030.
Find out more about the NECPs