Greece awards 411MW of capacity in energy storage auction

Greece has awarded 411MW of capacity in the energy storage auction. This is the country’s first auction for energy storage.

As per the authorities, the competitive bidding process was carried out with “absolute success.”

It was done in accordance with the provisions of No. 1/2023 Announcement by the Regulatory Authority for Energy (RAE).

According to the local reports, the bids by the selected winners ranged from €33.948/MW/year to €64.122/MW/year. It was lower than the maximum allowed bid price of the competitive process which was €115/MW/year.

It has been reported that the weighted average price of the selected projects amounted to €49.748/MW/year.

Many countries in Europe have accelerated the use of energy storage technology in the recent years.