The Portuguese Secretary of State for Energy confirms the record: the lowest bid in this month’s tender was 14.76 euros per MWh.

Portugal enters the history of photovoltaics with the lowest price of solar energy.

The lowest price of solar energy in the world has returned to Europe.

After a series of world records rebounded between Latin America and the Arabian Peninsula, Portugal takes the lead. As confirmed by the Secretary of State for Energy and Environment, João Galamba, the first national photovoltaic auction of this month received a bid of only 14.76 euros per MWh, or about 16 , $ 44 per MWh, for a 150 MW project.

The value is not only much lower than the maximum base price (45 euros / MWh, about 50 dollars / MWh), but it is also lower than the 17.52 dollars per MWh offered this year at the Brazilian auction, until yesterday the holder of the world save.

In total, the average price was 20.33 euros / MWh, with five projects reduced to around 17 euros / MWh.

This first race in Portugal was a success. There have been interesting reductions and, in addition to obtaining the lowest prices in Europe.

João Galamba, Secretary of State for Energy and the Environment.

In total, there was 1,150 MW of total new capacity at stake, which will now be distributed among thirteen winners. Galamba did not name any names, but according to some Portuguese newspapers, the Spanish Iberdrola won seven of the 24 available licenses, while EDP and Galp were left without any.

The auction awarded 862 MW out of a total of 1,150 MW through fifteen-year PPA contracts at a fixed price; the remaining 288 MW are linked to market prices.

The secretary described the Portuguese solar energy price as a “good news“for consumers.

We are truly committed to ensuring that renewable energy projects are awarded at the lowest price. This is the only way to bring consumers to the brink of the energy revolution that we are trying to push forward.

João Galamba, Secretary of State for Energy and the Environment.

The series of photovoltaic auctions that the country plans to carry out in the coming years is expected to bring installed solar power to 1.6 GW (2021) and 8.1 GW-9.9 GW in 2030. The next event will be the call for tenders of 700 MW, at the same time as the first for energy storage, in the first quarter of 2020.