Portugal's 1.4 GW solar auction oversubscribed by 8,500 MW

The auction for 1,400 MW of solar power capacity launched by the Ministry of Environment and Energy Transition of Portugal has been oversubscribed by more than 8,500 MW. According to French consultancy Enerdata, 64 participants have bid for over 10,000 MW of new solar capacity below the capped price of 45€/MWh. 300 investors had expressed interest in the auction, prompting the government to postpone the auction to early July. Currently, the country has an installed solar capacity of 913 MW.
A total of 24 areas were offered, says the articel: »One had an instant winner, one received no bids and the 22 remaining licenses will require auctions, where bidders offering the lowest energy tariff will win.« The winners will be announced in early August 2019. A second auction of 700 MW will be held in January 2020.

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