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Solar Photovoltaic Power Generation Bid Winning Announcement

UK launches new auction for large scale renewables,

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UK allocates more than 3 GW of solar through CfD

CfDs have been awarded to 93 solar projects totaling 3.288 GW of capacity, a new record for UK renewables auctions. Solar projects secured a strike price of GBP 50.07 ($64.25)/MWh, almost 18%...

Solar Photovoltaic Power Generation Bid Winning Announcement [PDF]

6 FAQs about [Solar Photovoltaic Power Generation Bid Winning Announcement]

How many bids were there in the 2023 solar auction?

The auction for first-segment solar installations that ended on 1 December 2023 was very significantly oversubscribed. There were 574 bids with a total volume of 5,485 megawatts ( MW) in the auction for a volume of 1,611 MW. This auction thus had the most bids and the largest bid volume ever for this technology.

How many solar projects have been awarded a CFD?

Image: Medienservices, Pixabay CfDs have been awarded to 93 solar projects totaling 3.288 GW of capacity, a new record for UK renewables auctions. Solar projects secured a strike price of GBP 50.07 ($64.25)/MWh, almost 18% below the auction’s ceiling price.

How many homes will be powered by the 6th renewables auction?

Sixth renewables auction delivers record smashing 131 clean energy projects powering equivalent of 11 million homes. Millions of homes and businesses across Britain will be powered by a new supply of clean, cheap, homegrown energy as a record number of projects receive funding through the government’s most successful renewables auction to date.

What is the record contracts for difference (CFDs) auction for UK solar?

Record contracts for difference (CfDs) auction for UK solar results in more than 90 projects securing fixed-price contracts. It follows intervention from the new UK government in summer 2024 to increase the auction budget. Strike prices achieved for all renewables technologies were well below the auction’s ceiling price.

How much is a solar PV project worth?

Overall, the auction had attracted offers worth 9,700 MW. The weighted average price for solar PV reached EUR 24.47 (USD 29.67) per MWh. The lowest price for solar, EUR 14.89/MWh, was submitted by Spanish energy group Ignis for a 30 MW project.

How much does a solar project cost in the UK?

Solar projects secured a strike price of GBP 50.07 ($64.25)/MWh, almost 18% below the auction’s ceiling price. Strike prices in UK CfD auctions are expressed in 2012 prices, with the generator receiving the equivalent adjusted for inflation. In total, 131 bids were successful at the CfD auction.

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