Russia allocates over 2.7 GW of capacity in latest renewables auction

ATS JSC, the administrator of the wholesale electricity market trading system in Russia, has allocated over 2,700 MW of capacity in the eighth round of the country’s auction programme for large-scale renewable energy projects.

To be more specific, ATS has awarded 1,851 MW of wind power, 775 MW of solar photovoltaic (PV) power and 96 MW of hydroelectric power in the latest auction, which was finalised earlier this month.

The wind bids ranged from RUB 1,717 (USD 23.56/EUR 20.08) per MWh to RUB 5,100 per MWh, while those for solar capacity were in the range of RUB 4,327-6,405 per MWh. There were three successful hydro bids, all from RusHydro PJSC (MCX:HYDR), ranging from RUB 7,682 to RUB 7,945.8 per MWh.

The results were announced on Tuesday and later that day Finnish utility Fortum Oyj (HEL:FORTUM) said that its joint wind investment fund with Russian nanotechnology company Rusnano has won the right to commission up to 1,600 MW of wind capacity in the period 2025-2027.

The prior auction was held in June 2019 and resulted in about 314 MW of renewable energy awards, including 78.1 MW of wind and just 5.6 MW of solar, the balance being mini-hydro. The programme was launched back in 2013.

(RUB 10 = USD 0.137/EUR 0.117)

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