JSC Korem Allocates 147.95 MW In Renewable Energy Auction, Awarding 60 MW To Solar PV Capacity; Lowest Winning PV Tariff Down 14.1% Over Capped Tariff; Hevel Solar Wins 40 MW
- Kazakhstan has selected winners of a 250 MW renewable energy auction for the year 2020
- The oversubscribed auction finally awarded 147.95 MW as against 494 MW offered by 27 companies across 4 nations
- Out of 16 projects selected, 60 MW were won by solar PV technology with Hevel securing 40 MW
The latest round of renewable energy auctions in Kazakhstan brought down winning tariffs for all participating technologies by a considerable amount. For solar PV, the drop from ceiling tariff to winning tariff was recorded at 14.1%. (Source: Kazakhstan Electricity and Power Market Operator JSC)
The Joint Stock Company Kazakhstan Electricity and Power Market Operator (JSC Korem) has selected 147.95 MW renewable energy capacity for the 250 MW auction it held for 250 MW capacity as per the auction schedule approved by the country’s Ministry of Energy for the year 2020.
Of the 147.95 MW awarded, 60 MW was won by solar power plants as against 55 MW on offer. Wind power projects secured 64.95 MW and 23 MW was won by hydro power plants.
JSC Korem says it recorded a decrease in the auction prices for all the technologies. For solar, the tariffs were capped at KZT 16.97 ($0.041) per kWh and the lowest winning bid was recorded at 14.1% reduced price of KZT 14.58 ($0.035) per kWh.
According to the information shared by JSC Korem, there was huge interest in the auctions with 27 companies from Kazakhstan, Russia, the Netherlands and Germany offering their bids representing a total capacity of 493.9 MW. It finally selected 16 projects.
Russian solar power company and module manufacturer Hevel Group, also referred to as Hevel Solar, won 2 projects of 20 MW each which takes its total portfolio in Kazakhstan to 288 MW comprising an operational capacity of over 248 MW in 8 projects.
“All solar power plants located mostly in southern regions of Kazakhstan are equipped with tracking systems designed to increase energy output generated by Hevel’s heterojunction solar modules,” said Deputy CEO of Hevel, Anton Usachev. “The company sees to expand its presence in Kazakhstan both by participating in auctions and seeking for projects to be acquired from other companies.”
In the country’s 1st solar auction of Kazakhstan in 2018, it awarded 170 MW PV capacity with JSC Hydroenergy offering the lowest winning bid of KZT 18.6 per kWh (see Kazakhstan Awards 170 MW PV In 1st Solar Auction). It was followed by Eni and General Electric joint venture ArmWind winning 50 MW solar PV plant for KZT 12.49 per kWh as the record low winning bid for this technology back in 2019.