Serbia has awarded CfDs for 400 MW of wind capacity and 11.6 MW of solar capacity in its first auctions
Bids for wind power projects exceeded the quota of 400 MW, while solar power projects attracted applications for just 36.2 MW of the 50 MW quota. The interest and the results for solar capacities were less impressive, as investors in solar power projects filed bids that would cover only 36.2 MW out of the available 50 MW. Moreover, only 11.6 MW fulfilled the requirements, or a mere 23.2%. The valid bids are for projects with a combined total capacity of 13.5 MW. Eleven participants passed to the bidding phase – 8 wind projects and 3 solar projects. The available quota for wind power projects was 400 MW and it was oversubscribed by 29.8%. Bids for an overall of 519.1 MW were declared valid. The projects in question are for 725.5 MW in total capacity. Namely, the participants didn’t have to apply an entire project for a 15-year contract for difference (CfD). The lowest wind power bid was EUR 64.48 per MWh, the ministry revealed, while the ceiling was set at EUR 105 per MWh. As for solar power, the upper limit was EUR 90 per MWh and the lowest offer came in at EUR 88.65 per MWh. “The achieved prices for the most part of the capacity are almost two times lower than the current market prices. It was the first such auction for Serbia, which expects to award market premiums for 1,300 MW of renewables in the next three years as part of its incentives plan. There is 100 MW in wind power capacity and 300 MW in solar, respectively, in plan for first quarter of 2024. Investors would compete for two-way market premiums for 150 MW in solar power capacity and 300 MW in wind power in the third round.
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