Foreign firms sweep tenders for RES projects


The results of the first tenders by the Regulatory Authority for Energy (RAE) for new renewable energy source projects – based on the offer of more competitive prices – have come as a shock to the local market.

The domestic players appear unprepared for the entry of foreign investors who offer considerably lower and clearly more competitive rates.

In wind power projects the bids made in the context of the tenders were 22.7 percent below the starting price, while in photovoltaics the prices were 20.2 percent lower.

The lowest prices (between 62.97 and 62.99 euros per megawatt-hour) in photovoltaics came from the subsidiaries of German group ABO, securing five projects with a total capacity of 45 megawatts out of a total capacity auctioned of 53 MW. The policy of the German group was so aggressive that it even locked horns with PPC up to the end of the auction.

Portugal’s EDP was also aggressive; its Renovaveis subsidiary participated in the wind projects tenders, and offering a price of 68.18 euros/MWh after a starting price of 90 euros/MWh it has secured a wind park with a capacity of 44.6 MW.

Domestic investors told Kathimerini that the changes in market strategies should be seriously taken into account.