Greece awards contracts for 472MW of new wind power, including a new record-low bid.

Wind power prices continued to fall as Greece in its latest onshore auction awarded contracts for more than 472MW of projects with combined average levelised cost of energy of €55.67/MWh ($65.37/MWh).

The tendering round included a winning bid by Greek developer Ascent Power of €53.86/MWh, which was a new record low for Greece, while the highest bid was at €57.70/MWh.

A total of 25 projects with a combined 748MW in capacity entered the oversubscribed tender, showing a higher level of competition than in previous tenders, European wind energy body WindEurope noted in a statement.

Greece at the end of June had an onshore wind capacity of 3.9GW, meeting 14% of the Southern European country’s electricity needs during the first half of 2020.

According to its National Energy and Climate Plan (NECP) submitted to the EU, Greece aims to increase its wind energy capacity to more than 7GW and to reach a 35% share of renewables in final energy consumption by 2030.

4 August 2020

IEEFA