On November 5, 2024, OCCTO announced the results of fiscal year 2024 biomass, offshore wind, and onshore wind auctions. No projects were submitted for consideration in the former two.
OCCTO was seeking to award 1GW in the onshore wind auction at a maximum FIP price of 14 yen/kWh. While just over 1GW spread across 22 projects was submitted for eligibility review and approved, bids for only 17 of those projects totaling 885MW were eventually submitted. All of those were awarded.
With five projects totaling just over 290MW, ENEOS Renewable Energy was awarded approximately a third of the total at FIP prices ranging between 11.33 and 11.72 yen/kWh. Cosmo Eco Power’s 129MW project at 13.99 yen/kWh was the largest awarded bid. Three special purpose companies associated with Japan Wind Development totaling 130MW, including two that bid successfully in last year’s auction but likely did not certify their projects, were awarded as well.
For further details about the auction including the full list of bidders, check the Japan Energy Hub FIT/FIP auctions module.
The offshore wind auction was for projects in areas outside those designated under the Act on Promoting the Utilization of Sea Areas for the Development of Marine Renewable Energy Power Generation Facilities. Areas under the act are auctioned separately by METI and MLIT, with the third such auction having been closed in July of this year with results expected in December.
This fiscal year’s third solar auction is underway now with the fourth one expected to follow in January 2025.
