Greece aims to auction wind and PV projects in May 2021
Post date: 13/01/2021 - 09:04
Greece’s Regulatory Authority for Energy (RAE) has announced that the country will conduct its third joint auction for wind and solar photovoltaics projects in May 2021. According to consultancy Global Data, the renewable energy auction scheme will continue to significantly change the generation mix of the country. In 2018, the year the auction mechanism was introduced, wind and solar PV together contributed around 28 percent to the generation mix, says the company. The share is expected to be around 35 percent at the end of 2020 and »the increase can be attributed to the success of the renewable energy auction.« Mohit Prasad, Project Manager at Global Data, expects that at the end of 2020, PV contributes 15 percent to the country’s overall energy mix, which was 13 percent before the introduction of the auction scheme.
The share of wind and solar growth is in line with the country phasing out coal-fired power plants and striving to achieve its target to become carbon neutral by 2050, says Global Data. Greece targets an additional 2.1 GW of wind-solar auction by 2024. The share of wind and solar together is estimated to grow to around 56 percent by end of 2030.
According to Global Data, the country witnessed 2,607 MW solar PV installation until the end of 2015 and solar PV contributed 13 percent to the generation mix. Until 2018, the country’s solar PV installation was 2,668 MW, with just 61 MW of solar PV installations being added over a period of three years. »In order to spur the growth in solar PV installations, the country introduced the renewable energy auction scheme in July 2018,« says Mohit Prasad.
Under the first auction held in April 2019, 86 percent of the awarded capacity was for solar PV projects. Furthermore, out of the seven projects that won in the auction, six - aggregating 377.78 MW - were of PV. This technology secured the majority share again in April 2020, when the country announced the result of the second mixed wind-solar tender. Out of a total of 502.94 MW, solar projects worth 350 MW were shortlisted, contributing 70 percent to the overall awarded capacity.