A 1.4GW solar tender in Portugal has attracted a world-record low bid of €14.80 ($16.46) per MWh.
The auction, which concluded on Monday, resulted in 1.15GW of contracts awarded to 13 as-yet-unnamed winners, which will now have 36 months to complete their projects.
Price squeeze as Brazil auctions smallest-ever clean-energy volumes
Portuguese newspaper Jornal de Negócios reported that Iberdrola won seven of the 24 licences, with France’s Akuo picking up 370MW.
“This auction shows that the energy transition, to which the government is committed, not only can strongly accelerate investment and the penetration of renewables in Portugal, but it can be done at very low prices,” said energy secretary João Galamba.
The previous world-record low of $17.50/MWh was secured for 211MW of PV at Brazil’s A-4 renewables auction on 28 June. That beat the previous record of $19.97/MWh set a few days earlier by a 200MW project in Los Angeles.
The new record could be broken as soon as Thursday, with results due from a tender in Saudi Arabia.
The lowest price for wind energy is believed to be the $17.70/MWh registered at a Mexican tender in November 2017.