Chile’s renewables auction attracts lowest bid of $0.01332/kWh

Canadian Solar Libertador Solar Holding SpA submitted the lowest bid for a PV project in Chile’s latest clean energy auction.

Image: Comisión Nacional de Energía

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The Chilean National Energy Commission (CNE) has unveiled the offers it received in an auction for 2.31 TWh of renewable energy this week and has revealed that the lowest price submitted was $0.01332/kWh.

“We believe that, due to the prices observed, this will be a remarkable process, which will allow average prices well below those of the previous auction held in 2017,” the CNE said, noting that a number of offers were between $0.021/kWh and $0.028/kWh. 

According to La Tercera, Canadian Solar Libertador Solar Holding SpA submitted the lowest bid in the auction for a solar power project. The Chilean media outlet noted that the final results of the auction will be announced in the days to come.

The procurement exercise attracted bids from 29 developers, including Enel Generación Chile SA, Acciona Energía Chile Holdings SA, Solar Los Loros SpA, Eólica Monte Redondo SpA, Inversiones Hornitos SpA, Sonnedix PPA Holding SpA, Atlas Energia SpA, Chungungo SA, FRV Development Chile I SpA, Inversiones la Frontera Sur SpA, Duqueco SpA, PV Salvador SA, Energía Coyanco SA, Colbún SA, Hidroeléctrica Río Lircay SA, Chagual Energía Spa, Racó Energía SpA, Copiapó Energía Solar SpA, Canadian Solar Libertador Solar Holding SpA, Renovalia Chile Dos SpA, Parque Eólico San Andrés SpA, Likana Solar SpA, Parque Eólico Vientos del Pacífico SpA, Pacific Hydro Chile SA, GR Power Chile SpA, Librillo Solar SpA, Parque Eólico Carica SpA, Conejo Solar SpA, and OPDE Chile SPA.

The selected projects must start delivering power to the Sistema Interconectado Central and Sistema Interconectado del Norte Grande electricity networks by Jan. 1, 2026. The plants will supply electricity under 15-year power purchase agreements for the 2026-40 period.

The country's Ministry of Energy commented on the results on its Twitter account. It claimed that the outcomes were historically significant, and noted that Canadian Solar Libertador Solar Holding's bid was the lowest offer for a large-scale solar project ever recorded in Latin America.

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In its last auction, which was held in November 2017, the Chilean government allocated 2.2 TWh of capacity. Enel Generación Chile submitted the lowest bid of $21.48/MWh. The final average electricity price was $32.50/MWh.

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