Japan’s 69 MW Solar Auction Receives Lowest Tariff of $0.061/kWh
A total of 55 bidders were declared successful during the auction
Japan’s Organization for Cross-regional Coordination of Transmission Operators (OCCTO) has concluded the 17th auction for 69.07 MW of grid-connected solar power projects, announcing 55 successful bidders. The total bid capacity in the auction was 110.89 MW.
The lowest tariff revealed in the auction was ¥8.95 (~$0.061)/kWh, and the weighted average winning bid was ¥9.30 (~$0.063)/kWh. The highest bid price was ¥9.43 (~$0.065)/kWh.
The bid was conducted under two categories:
- More than 500 kW
- From 250 kW to 500 kW
The auction was conducted in accordance with the guidelines for bidding in Japan issued by the Ministry of Economy, Trade, and Industry (METI).
Daiwa Green Energy Company quoted the lowest tariff of ¥8.95 (~$0.061)/kWh, winning a capacity of 900 kW.
Enerusion Corporation won ten projects with a cumulative capacity of 6.24 MW, followed by ACT Ecotech with seven projects with a cumulative capacity of 2.9 MW. Daiwa House Company won five projects with a total capacity of 6.59 MW.
The bidding volume for the 18th solar power bidding has been announced, and it will be conducted for a capacity of 105 MW.
In the 16th solar auction held in July, there were a total of 35 successful bidders, and the lowest discovered tariff was ¥9 (~$0.062)/kWh. The weighted average bid price was ¥9.36 (~$0.064)/kWh.
Earlier in the 15th solar auction held in March, nine bidders were declared successful for a total capacity of 175 MW. The lowest bid discovered in the auction was ¥9.48 (~$0.065)/kWh. The weighted average bid price in the auction was ¥9.56 (~$0.065)/kWh.
In May this year, Infrastructure investor Actis launched Nozomi Energy, a new renewable energy platform, targeting 1.1 GW of onshore wind and solar power generation by 2027 in Japan with an investment of $500 million.
Last year, Singapore-based renewable energy company Vena Energy had secured a green loan of JP¥8.54 billion (~$63.28 million) to construct the 26 MW Kisarazu Shimogori Solar project in Japan.