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Chile lowest price for renewable energy Price auction released: $0.01332/kWh

The Chilean National Energy Commission (CNE) announced the renewable energy price received at the 2.31 TWh renewable energy auction this week, and revealed that the minimum bid is $0.01332/kWh.

CNE pointed out that many of the renewable energy price quotations are between 0.021 USD/kWh and 0.028 USD/kWh, and said: “Given the prices we have seen, we think this is an extraordinary process that will make the average renewable energy price much lower than The last auction held in 2017.”

Chile’s “Third Daily” stated that Canadian Solar Libertador Solar Holding SpA had the lowest renewable energy price bid in an auction for a solar power project. The Chilean media agency pointed out that the final auction results will be announced in the next few days.

This procurement activity attracted bids from 29 developers, including Enel Generación Chile SA, Acciona Energía Chile Holdings SA, Solar Los Loros SpA, Eólica Monte Redondo SpA, Inversiones Hornitos SpA, Sonnedix PPA Holding SpA, Atlas Energia SpA, Chungungo SA, FRV Development Chile I SpA, Inversiones la Frontera Sur SpA, Duqueco SpA, PV Salvador SA, Energía Coyanco SA, Colbún SA, Hidroeléctrica Río Lircay SA, Chagual Energía Spa, Racó Energía SpA, Copiapó Energía Solar SpA, Canadian Solar SpA, Renova Chile Dolico Renova San Andrés SpA, Likana Solar SpA, Parque Eólico Vientos del Pacífico SpA, Pacific Hydro Chile SA, GR Power Chile SpA, Librillo Solar SpA, Parque Eólico Carica SpA, Conejo Solar SpA and OPDE Chile SPA.

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The selected projects must begin to transfer to the central interconnected grid (Sistema Interco) before January 1, 2026 nectado Central and North Grande Grid (Sistema Interconectado del Norte Grande). These power plants will supply electricity under a 15-year power purchase agreement during 2026-40.

The Chilean Ministry of Energy commented on the auction results on its Twitter account. It claims that these results are of extraordinary historical significance and pointed out that Canadian Solar Libertador Solar Holding’s bid renewable energy price is the lowest bid ever for a large-scale solar project in Latin America.

renewable energy price

At the last auction held in November 2017, the Chilean government allocated 2.2 TWh of power generation. The Chilean Electric Company submitted the lowest price of USD 21.48/MWh. The final average electricity price is $32.50/MWh.

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