Greece’s vitality regulator has introduced three separate auctions for standalone vitality storage techniques related to electrical energy transmission networks. The applying course of for the primary public sale, involving 400 MW of vitality storage, has been open since July 10.
RAAEY – Greece’s newly shaped regulatory authority for waste, vitality, and water – has revealed that the nation will allocate 1 GW of latest vitality storage capability. This system consists of three separate auctions, with capacities of 400 MW, 300 MW, and 300 MW.
Greece’s vitality conservation program will obtain €341 million ($372.3 million) from the European Union’s post-pandemic restoration fund, which was accepted final yr by the European Fee.
The primary and second tenders of this system will deal with standalone vitality storage tasks related to the Greek electrical energy transmission community. The tenders don’t embrace the community on the island of Crete, which is linked to Greece’s mainland energy grid in 2021.
The Greek vitality storage scheme permits tasks from the European Financial Space (EEA) outdoors Greece, if there may be electrical energy connection and absolutely built-in electrical energy grids between Greece and the EEA nation. Thus far, solely Bulgaria has met these expectations. The eligible vitality storage capability from Bulgaria for the primary and second tenders in Greece will depend on the quantity of vitality buying and selling and different standards, with a restrict of 31 MW.
The third tender of Greece’s vitality storage program focuses on standalone tasks in designated vitality transition areas, similar to former coal mining areas. These tasks are related to the transmission community.
The applying course of for the primary tender will shut on July 10, and the listing of certified bidders might be revealed on August 10. The date of the public sale might be introduced later this yr. As well as, the applying course of for the second and third vitality storage tenders might be opened on the finish of this yr.
Capex assist
Greece’s subsidy assist for profitable vitality storage tasks in future tenders is large.
Through the development part, all profitable tasks will obtain a one-time cost of €200,000 per MW, which serves as a capital expenditure subsidy. Market sources counsel that this subsidy will cowl roughly 40% of the price of constructing the battery venture at present costs.
As well as, profitable tasks might be awarded contracts for distinction (CfDs) that assure a set earnings for 10 years. CfD costs are decided via tenders. For the primary vitality storage public sale, the regulator set a capped CfD value of €115,000 per MW per yr.
Consequently, the profitable tasks should take part within the vitality market, such because the wholesale electrical energy market in Greece and the secondary balancing service market. Yearly, the federal government will verify the market revenue of the tasks. If the earnings are decrease than the value of the CfD, traders obtain a top-up cost to bridge the distinction. Conversely, if the earnings exceeds the value of the CfD, the surplus should be returned to the state.
Power storage tasks collaborating in this system in Greece are prohibited from collaborating out there of vitality sources and can’t enter into energy buy agreements (PPA) with non-public traders.
Mild guidelines
To qualify for vitality storage tenders in Greece, tasks should have an vitality storage license, guarantee a minimal of two hours of capability length, present a minimal of 1 MW of storage capability injection, and begin constructing after a gentle.
The regulator enforces guidelines to make sure competitors. The tender subscription rule is about at 100%, which signifies that not less than 800 MW of vitality storage capability should compete for choice to offer 400 MW of capability. This rule maintains competitors within the public sale, in line with the regulator.
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Every tender should embrace not less than 4 unbiased contributors with no enterprise ties. As well as, a participant can’t bid for greater than 25% of the vitality storage capability provided within the public sale. Within the Greek vitality storage program, a participant is proscribed to a most of 100 MW within the mixed first and second tenders.
Tender contributors face strict monetary necessities, which restrict the bids of the main gamers. Certified contributors should present the regulator with three letters of assure from banks and monetary establishments, exhibiting monetary stability: participation letter of assure (€35,000/MW), letter of assure for well timed enterprise efficiency (€250,000/MW), and letter of assure for high quality operation (€200,000/MW). An utility charge of €2,500 per submission to the regulator additionally applies.
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