In its 18th utility-scale photovoltaic (PV) competition, the Japanese government has allocated 105 MW of capacity to further enhance its renewable energy mix. The Green Investment Promotion Organisation, a state-run entity, revealed the results, indicating that the tender received bids totaling 177.8 MW.
The competition solicited proposals in two categories, spanning capacities from 250 kW to 500 kW and exceeding 500 kW. Thirty-three bids were successful, with selected proposals ranging from 500 kW to 25.9 MW. The weighted average price of the winning bids stood at JPY 8.55 (USD 0.0577/EUR 0.0525) per kWh, remaining below the ceiling of JPY 9.35/kWh.
Developers securing capacity in this round include Daiwa House Industries, Regional Electric Power Co, and Hokuriku Electric Power. Detailed information about the successful projects is available on the government agency's website.
Japan has set ambitious targets to increase renewable energy's share in its electricity mix to 36%-38% by the end of the decade. In pursuit of this goal, the country transitioned from its renewable feed-in tariff (FiT) scheme to a feed-in-premium (FiP) program last year. Under the FiP, developers are entitled to a premium between the FiP price and the average market price.
