Monthly Report

21st Solar Auction severely undersubscribed, 34MW awarded average 8.08 yen/kWh FIP

August 27, 2024
Solar Grazing
Oboro Solar Grazing’s 13.3MW project was the only 2MW+ project awarded in the auction.

Only 33.67MW of the 106.99MW sought in Japan’s 21st Solar Auction was awarded, the Organization for Cross-regional Coordination of Transmission Operators (OCCTO) announced last week.

Of the 27 eligible business plans submitted for initial evaluation, 22 resulted in actual bids, all of which were successful. Awarded feed-in-premium (FIP) prices ranged between 5.00 yen/kWh and the auction’s ceiling, 9.13 yen/kWh, with the weighted average being 8.08 yen/kWh.

In total, 12 companies, some of them special purpose vehicles of major developers, were successful in the auction. Four developers or companies believed to be associated with them accounted for 90% of the awarded project capacity.

Japan 21st Solar Auction Winners

SymEnergy and Oboro Solar Grazing believed to be associated with it were awarded a 325kW- and 13,332kW-project, respectively, accounting for 40.6% of the total. The latter was also the largest awarded project in the auction and the only 2MW+ one.

Companies associated with Renewable Japan were awarded seven projects with a combined output of 8.60MW, or 25.6% of the total. Sirius Solar Japan 48 and Sirius Solar Japan 60, two companies associated with Trina Solar Japan Energy, were awarded four projects totaling 4.37MW or 13.0% of the total. Lastly, HEXA Renewables Japan’s five project accounted for 3.54MW or 10.50% of the total.

Alongside announcing the auction results, OCCTO also set the target procurement volume for the 22nd Solar Auction, expected to open for registration this October, at 93MW.

Details about both auctions in Japan Energy Hub’s Renewable Energy Auctions module have now been updated.

If you found the above helpful, join our free weekly newsletter to get a summary of the latest news from the Japanese power market straight in your inbox.

…or create a FREE Japan Energy Hub account to not only receive the newsletter but also access to selected parts of our data modules.

In other news...

Monthly Report - The Japanese Power Industry Executive

Submit the form below to receive a sample issue of The Japan Power Industry Executive.