According to the recently announced 15th solar power auction (FY2022 4th), the successful bid volume for both FIT and FIP fell below the offered capacity, and the weighted average successful bid price declined. Looking back on the results of the 14th Solar Power Auction.
None of them have reached the recruitment capacity
10 cases of postponement of bid participation
On March 10, the Organization for Cross-regional Coordination of Transmission Operators (OCCTO) announced the results of the 15th Solar Power Bidding (FY2022 4th Bidding). The bidding target was 250 to less than 1,000 kW for FIT certification, 1,000 kW or more for FIP certification, and the previously announced upper limit price was 9.63 yen/kWh for both FIT and FIP.
First, the bidding results for FIT are as follows. There were bids of 15.8362 MW for the offered capacity of 50 MW, and the same amount was awarded. There were 25 successful bids, with the lowest successful bid price of 9.50 yen/kWh, the weighted average successful bid price of 9.59 yen/kWh, and the highest successful bid price of 9.63 yen/kWh.
In comparison, 36 projects totaling 21.9571 MW were submitted for tender eligibility screening, and 33 projects totaling 20.3321 MW were notified that they were eligible to participate. Therefore, 8 projects with 4.5 MW or so have not participated.
Subsequently, in the bidding result of FIP, there were 9 bids for 16.2045 MW for the offered capacity of 175 MW, and the same amount was awarded. The lowest successful bid price was 9.48 yen/kWh, the weighted average successful bid price was 9.56 yen/kWh, and the highest successful bid price was 9.63 yen/kWh. Japan Renewable Energy (3MW) was one of the special high-voltage projects out of the nine successful bids.
In FIP, 12 cases of 69.0664 MW were submitted for bidding eligibility screening, and 11 cases of 67.4545 MW were notified that they could participate, so 2 cases of 51.25 MW did not participate. Conceivable.
Weighted average successful bid price dropped significantly
Significant price drop in FIP
In the 15th bid for solar power, the weighted average successful bid price was 9.59 yen/kWh for FIT and 9.56 yen/kWh for FIP. In the previous 14th solar bidding (3rd in 2022), the FIT was 9.70 yen/kWh and the FIP was 9.73 yen/kWh, so the prices decreased by 0.11 yen/kWh and 0.17 yen/kWh, respectively.
While the weighted average successful bid price has dropped significantly, the successful bid capacity continues to fall short of the offered capacity. Especially in FIP, it can be said that the fact that there were few large-scale special high-voltage projects led to a large underachievement of the recruitment capacity.
In addition, in the FIP of the 14th solar PV bidding, 11 projects, 137.2069 MW, were successfully bid against the offered capacity of 175 MW. Two of the 11 projects were large extra-high voltage projects, FS Japan Project 39 LLC (28.800 MW) and CES Iwaki Solar Power Plant LLC (94.160 MW).
