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France awards 858 MW solar PV at Eur64/MWh

Highlights

Premium 2% above last auction, 10% above June 2018

Country targets fivefold solar hike by 2028

French solar sets new monthly records this summer

London — France has awarded subsidies to 107 ground-based solar PV projects, with a combined capacity of 858 MW, at an average sliding premium of Eur64/MWh ($71.66/MWh), the energy ministry said Tuesday.

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The price was up 2% on the previous round and 10% above last summer's record low of Eur58.20/MWh.

Larger projects above 5 MW were awarded at an average price of Eur59.50/MWh, the ministry said.

This was the sixth and final round in a 4 GW program.

French ground-based solar tender comparison

Tender Awarded (MW) Price (Eur/MWh)
Feb-17 800 70.6
Jun-17 508 63.9
Feb-18 508 61.6
Jun-18 720 58.2
Dec-18 855 62.7
Jun-19 858 64

Source: French energy ministry, CRE

France launched ground-based and rooftop solar auctions in 2016 with a goal to hit 10 GW by 2018-end.

Last year, the country added 862 MW of solar capacity, bringing the total to 8.9 GW and generating almost 10 TWh/year.

The government's new multi-annual energy plan (PPE) has set a target of 35.5 GW to 44.5 GW of solar power by 2028.

Related story: Spain PV production breaches 4 GW peak for first time

The lowest average price for ground-based solar in France was recorded in 2018 in a mixed technology tender, with some 200 MW sold at an average Eur54.94/MWh. Rooftop solar tender awards have averaged over Eur70/MWh due to smaller project size.

The next ground-based solar tender is planned for Q4 with 1 GW on offer.

France plans two annual 1 GW ground-based tenders and three 300 MW rooftop tenders under the PPE for the 2020-2025 period.

French solar generation set consecutive monthly records in June and July, producing almost 3 TWh in the two-month period.

That compared with 9.8 TWh for all of 2018, according to S&P Global Platts' Renewable Power Tracker.

-- Andreas Franke, andreas.franke@spglobal.com

-- Edited by Manish Parashar, manishparashar@spglobal.com