German renewables developer ABO Wind AG announced on Monday its success in securing tariffs for four solar projects totaling almost 50 MW in the latest auction held by the Federal Network Agency.
The secured funding, provided under the Renewable Energy Sources Act (EEG), ensures long-term economic stability for the projects, thereby reducing financing costs, the company stated.
Scheduled to become operational in 2024, the solar parks will contribute significantly to Germany's renewable energy capacity. The largest among them, situated near the town of Habscheid in western Germany, is expected to be commissioned in the fourth quarter with a capacity of 25 MW. The remaining plants, located near the towns of Rehau, Allna, and Hoerzhausen, will have capacities of 8.3 MW, 8.8 MW, and 6.5 MW, respectively.
The auction witnessed substantial oversubscription, with the German agency receiving 574 bids totaling 5,485 MW, while selecting 124 projects with a combined capacity of 1,613 MW. The awarded tariffs ranged between EUR 0.0444 (USD 0.048) and EUR 0.0547 per kWh.
ABO Wind also noted ongoing negotiations for power purchase agreements, which could potentially offer higher payments for solar energy compared to the state-backed EEG tariff.
