Greece awards 188.9 MW for subsidized battery storage in final auction
Greece’s third energy storage auction has been completed with nine projects selected.
It was the final auction where the state provides subsidies to build battery energy storage systems (BESS). A total of almost 800 MW in capability has been awarded through all three storage auctions.
In the latest bidding, nine projects with a four-hour storage duration have been selected for a total capacity of 188.9 MW.
HELLENiQ Energy and PPC are biggest winners
HELLENiQ Renewables and government-controlled Public Power Corp. (PPC) were the biggest winners, with two plants of 25 MW and one 50 MW plant, respectively. The rest of the list comprises Amber Energy (18 MW), Plain Solar (7.9 MW), Enercoplan (25 MW), Arkadia Storage (10 MW), Heliothema (10 MW) and Ardassa Energy (18 MW).
The facilities will be installed in the Western Macedonia region in northern Greece and in the municipalities of Megalopolis, Tripoli, Gortynia and Oichalia in the Peloponnese region. They are the country’s lignite regions, covered by the Just Transition Development Plan.
The investments will benefit from a public grant of EUR 200,000 per MW and they must now submit a letter of guarantee for EUR 35,000 per MW within the next three months.
Average price rises
As for the average price, it landed at EUR 52,589.16 per MW per year in the auction. The lowest offer was EUR 43,927 per MW, by HELLENiQ Renewables, while the highest was EUR 58,773 per MW, by Plain Solar.
The average prices in the first and second auctions were EUR 49,748 per MW and EUR 47,680 per MW.
It should be pointed out that from now on, new facilities in the sector will operate commercially and get income strictly from the market. The Ministry of Environment and Energy has already published a decree setting the rules for the installation of 4.7 GW of new battery systems until 2030.
Investors are getting ready for future auctions. They will submit their applications to the Regulatory Authority for Energy, Waste and Water (RAEWW or RAAEY). Only last month, applications in the segment reached almost 1.5 GW, showing an enormous interest.
