Monthly Report

Digital Grid’s RE Bridge facilitates 15 PPAs in 4th round auction including 22.8MW of geothermal

January 17, 2025
Geothermal
In the 4th round, RE Bridge facilitated its first geothermal deal. (Image: J-POWER)

RE Bridge facilitated 15 deals including 14 solar and one geothermal in its 4th auction round held between November 18 and December 20, 2024, the virtual PPA matching platform’s operator Digital Grid announced on January 10, 2025.

According to the company’s statement, a total of 14.2MWDC of solar was matched alongside 22.8MW of geothermal; the breakdown of deal count by technology has not been disclosed. The solar PPAs were matched at an average price of 19 yen/kWh, which was considerably higher than the 14 to 15 yen/kWh average prices from the platform’s first three auction rounds held between September 2023 and August 2024. Geothermal prices were not disclosed.

Participation in Digital Grid’s auctions continues to grow. In the 4th round, 57 generators (vs. 38 in the 3rd round) offered generation from 158 power plants (vs. 103) totaling 339MWDC (vs. 259MWDC). On the buy side, 39 offtakers participated compared to 27 in the previous round. That said, the 37MW matched in the 4th round underperformed the previous round in which 12 deals totaling 92MWDC were matched.

Digital Grid plans to hold the next auction round between April and May 2025.

Separately from facilitating PPAs of which the disclosed ones can be found in the Japan Energy Hub PPA database, Digital Grid also supports companies such as Daihatsu Diesel and Prologis looking to implement self-wheeling arrangements.

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