Greece’s power regulator has introduced three separate auctions for standalone power storage techniques linked to electrical energy transmission networks. The appliance course of for the primary public sale, which incorporates 400 MW of power storage, will probably be open till July 10.
RAAEY – Greece’s newly fashioned regulatory authority for waste, power, and water – has revealed that the nation will allocate 1 GW of latest power storage capability. This system consists of three separate auctions, with capacities of 400 MW, 300 MW, and 300 MW.
Greece’s power conservation program will obtain €341 million ($372.3 million) from the European Union’s post-pandemic restoration fund, which was accepted final 12 months by the European Fee.
The primary and second tenders of this system will concentrate on standalone power storage tasks linked 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 power storage scheme permits tasks from the European Financial Space (EEA) outdoors Greece, if there’s electrical energy connection and absolutely built-in electrical energy grids between Greece and the EEA nation. Up to now, solely Bulgaria has met these expectations. The eligible power storage capability from Bulgaria for the primary and second tenders in Greece depends upon the amount of power buying and selling and different standards, with a restrict of 31 MW.
The third tender of Greece’s power storage program focuses on standalone tasks in designated power transition areas, resembling former coal mining areas. These tasks are linked to the transmission community.
The appliance course of for the primary tender will shut on July 10, and the checklist of certified bidders will probably be printed on August 10. The date of the public sale will probably be introduced later this 12 months. As well as, the applying course of for the second and third power storage tenders will probably be opened on the finish of this 12 months.
Capex assist
Greece’s subsidy assist for successful power storage tasks in future tenders is big.
In the course of the development part, all successful 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, successful tasks will probably be awarded contracts for distinction (CfDs) that assure a hard and fast revenue for 10 years. CfD costs are decided by means of tenders. For the primary power storage public sale, the regulator set a capped CfD worth of €115,000 per MW per 12 months.
In consequence, the successful tasks should take part within the power market, such because the wholesale electrical energy market in Greece and the secondary balancing service market. Yearly, the federal government will test the market revenue of the tasks. If earnings are decrease than the worth of the CfD, buyers obtain a top-up cost to bridge the distinction. Conversely, if the revenue exceeds the worth of the CfD, the surplus should be returned to the state.
Power storage tasks taking part in this system in Greece are prohibited from taking part out there of power sources and can’t enter into energy buy agreements (PPA) with personal buyers.
Light guidelines
To qualify for power storage tenders in Greece, tasks will need to have an power 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 ready at 100%, which implies that at the least 800 MW of power storage capability should compete for choice to offer 400 MW of capability. This rule maintains competitors within the public sale, in keeping with the regulator.
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Every tender should embrace at the least 4 unbiased contributors with no enterprise ties. As well as, a participant can’t bid for greater than 25% of the power storage capability supplied within the public sale. Within the Greek power 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 key 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 price of €2,500 per submission to the regulator additionally applies.
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