Oversubscribed auction sign of increased Greek interest

Greece awarded 20-year contracts to 224MW of wind capacity at an average price of €57.74/MWh, 15.4% below the starting bid price and well below the average €67.32/MWh price at the previous wind auction in July.

A first oversubscribed tender in Greece indicates increased confidence in the market (pic: Eren)

Successful bids in the tender for wind projects up to 50MW ranged from €55.77-€61.94/MWh, Greece's energy regulator RAE said.

Bids were submitted for a total 491MW, more than double the 225.45MW offered, making it Greece's first oversubscribed wind auction.

Seven projects were awarded capacity. A joint venture between Greek renewable energy group Enteka's Enora subsidiary and Quantum Energy Partners' clean energy platform 547 Energy won contracts for four projects totalling 135MW.

EDP Renovaveis won a contract for a 33MW project, Iberdrola's Rokas unit secured a deal for a 32MW wind farm and Greek developer Volterra was successful with a 24MW project.

The Hellenic Wind Energy Association's (HWEA) CEO Panagiotis Papastamatiou said the tender results are evidence of increased investment interest.

It comes amid encouraging indications on the Greek economic front and after the government laid out ambitious targets in its recently updated energy and climate plan, including a coal phase out by 2028 and 7GW of wind capacity by 2030.

Plans have been announced for a 300MW wind specific tender and a 500MW joint wind and solar PV tender.

HWEA called on the government to increase wind capacity being auctioned off in 2020 and to ensure adequate capacity is made available after next year.