Japan's Green Investment Promotion Organization has released the final results of the latest auction for solar energy projects with power ratings above 250 kW.
The state-run agency said PV projects with a combined capacity of 153.7 MW were selected in the procurement exercise. It was Japan's 12th auction scheme for utility-scale solar. It was also the first exercise to award either fixed feed-in tariffs or feed-in premium tariffs.
For the feed-in premiums, which will be granted to projects above 1 MW, the assigned capacity was 128.9 MW across five projects. The Japanese authorities originally planned to allocate 150 MW and agreed to review 13 projects, totaling 181.0 MW. The lowest bid offered in the auction was JPY 8.85/kWh and the average, offered final price was JPY 9.87. The ceiling price had been set at JPY 10/kWh.
The feed-in tariffs will be awarded to projects ranging in size from 250 kW to 1 MW. The authorities assigned 24.7 MW of capacity and the lowest bid was JPY 9.80/kWh. The final average price was JPY 9.93.
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In the 11th auction, which was finalized in March, the assigned PV capacity was 268.7 MW and the lowest bid came in at JPY 8.99/kWh. However, that was the last auction to award fixed tariffs.
In 2021, the Japanese government allocated 675 MW of PV capacity across three different auctions. In the previous auctions, it allocated 942 MW.
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