All eight projects that bid in the 29th (FY2026’s second) solar auction were awarded a combined 38.2MWAC at an average feed-in-premium (FIP) price of 8.89 yen per kWh, results released by OCCTO on August 24, 2026, show.
The bids covered only about a third of the 115.4MWAC sought, making the round the first undersubscribed solar auction since the 26th (FY2025’s third), in which only 46% of the target capacity was awarded.
AC12 LLC’s 29.9MWAC project accounted for about 78% of the awarded capacity. With a bid of 9.48 yen per kWh, it cleared just below the 9.60 yen per kWh ceiling price. The special purpose company (SPC) won a 9.37 yen per kWh award for 1.76MWAC as the last-ranked successful participant in the previous round, but declined the slot and now appears to have secured support for the full planned power plant.
Sandia LLC was awarded two projects totaling 2.56MWAC at 5.30 yen per kWh, the auction’s lowest prices. Japan Petroleum Exploration (JAPEX) and Solar Field 13 LLC each secured support for an approximately 2MWAC planned power plant, clearing at 7.60 and 7.00 yen per kWh, respectively. The latter, which is affiliated with Tekoma Energy, also won several projects in the 25th (FY2025’s second) round.
IQg, WAKO, and Sunshine Kyushu Hombu were each successful with one sub-1MWAC project.
Overall, developers submitted business plans for 13 projects totaling 87.66MWAC. One 400kWAC submission was deemed ineligible to participate. Only eight of the remaining 12 projects submitted actual bids, leaving about 49MWAC of eligible capacity out of the auction. Unlike in some recent rounds, no companies submitted zero-yen bids aimed at securing the FIP scheme’s balancing subsidy that is paid regardless of the awarded price or market conditions.
Companies that were awarded projects in the 29th round will need to pay a deposit by September 7, 2026, and obtain FIP certification by March 24, 2027, to secure their contracts. As bids fell short of 91MWAC, the procurement target for the 30th (FY2026’s third) auction will be reset at that level, down from the 115.4MWAC in the latest round. OCCTO will accept business plans from September 24 to October 14, 2026, with results scheduled for November 25, 2026.
