Japan's Green Investment Promotion Organization has released the final results of its latest auction for utility-scale solar energy projects.
The state-run agency said that 75.3 MW of PV projects were selected in the procurement exercise. It was Japan's 26th auction for utility-scale solar and was expected to assign 163 MW of generating capacity.
The 27 selected projects range in size from 300 kW to 21.7 MW.
The lowest bid was JPY 4.97 ($0.032)/kWh and was submitted for two projects with a capacity of 500 kW and 300 kW, respectively.
The highest bid of JPY 8.75/kWh was submitted for six projects ranging in size from 1 MW to 2 MW. The average final price came in at JPY 7.13/kWh, with the ceiling price being JPY 8.75/kWh.
In the 25th auction, the Japanese authorities allocated 223.3 MW at an average price of JPY 6.58/kWh. In the 24th auction, the average final price came in at JPY 4.06/kWh and the allocated capacity was 79 MW.
In both these procurement exercises, the lowest bid was JPY 0.00/kWh and was submitted for several projects with a capacity between 300 kW and 2 MW. These projects had likely secured a private power purchase agreement for the sale of electricity and participated in the auction to secure grid connection.
In the previous ten rounds, held between March 2025 and March 2022, the lowest prices ranged between JPY 5.06/kWh and JPY 8.85/kWh.
In 2021, the Japanese government allocated 675 MW of PV capacity across three different auctions. In previous auctions, it allocated 942 MW.
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