June 23, 2024
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SEE region: RAAEY announces first RES auction for installations in Bulgaria and Italy

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Greek Regulatory Authority for Waste, Energy and Water (RΑΑΕΥ) has announced the first RES auction offering operating support to new solar and wind projects in Bulgaria and Italy.

The cross-border auction has been made possible by a new law that facilitates auctions for project development in the European Economic Area, an international agreement enabling the extension of the EU’s single market to member states of the European Free Trade Association.

Qualifying projects will have to sell their RES output on Greece’s day-ahead market daily, through physical delivery, meaning they will need to have secured interconnection rights.

A maximum capacity of 200 MW will be offered through the inaugural auction, whose bidding process was triggered by its announcement in the government gazette, and completed on March 11, 2024.

RAAEY will complete its appraisal of bids by April 18 and publish a list of qualifying and disqualified project bids, before releasing a finalized list of successful bids on April 25. Unsuccessful bidders will be allowed to appeal during the intermediate one-week period.

Contrary to terms concerning mixed RES auctions for projects to be installed in Greece, no minimum percentage of successful projects per technology will be required. To participate, prospective projects will need to possess valid connection contracts and/or finalized connection offers.

At least three projects linked with as many investors will need to participate in the auction to go ahead, while participants will not be able to compete for over 35 percent of the total capacity on offer.

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