Market turbulence delays Portuguese auction

7 April 2020

Portugal’s government has postponed a 700 MW solar PV tender planned for April.

Secretary of State for Energy, João Galamba, has announced that the renewable energy auction will be put off until the markets are less turbulent.

Although the global Covid-19 virus was not mentioned as the cause of the delay, the pandemic has impacted energy demand across Europe resulting in lower energy prices and an uncertain outlook.

“That the auction has been delayed without a timeframe indicates the market situation, and it is unlikely that the auction will be conducted until the pandemic is brought under control,” said Somik Das, Power Analyst at GlobalData. “The fate of the auction depends on investor interest and confidence, which will largely depend on the successful implementation of projects subscribed under last year’s auctions.”

Galamba has announced the launch of a new portal for future solar auctions in Portugal. The auction was originally due to run in January and was postponed until April.

Portugal’s first solar auction in 2019 awarded 1.15 GW out of an available 1.4 GW on offer.


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