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Home/What happened in Portugal’s recent record-breaking solar auctions?

What happened in Portugal’s recent record-breaking solar auctions?

The Portuguese government’s final results of the July 2019 solar auctions were announced this week, with a total of 1.15GW awarded to participants, short of the planned 1.4GW.

With a heavily over-subscribed auction, a low clearing price was always expected. However Aurora believes that prices as low as €14.76/MWh are not representative of the cost of new solar development, even in Iberia.

Yet, with over 9 GW of solar expected over the next 20 years, these clearing prices could significantly undermine future investment. This is particularly important in Portugal, where the auction mechanism is currently the only way to receive a grid connection.

Download our two-page news brief for our full analysis and commentary.

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