Germany's Federal Network Agency has announced a record-setting result for its latest onshore wind energy auction, awarding contracts for nearly 3 gigawatts (GW) of capacity. This marks the highest volume ever achieved in such auctions, surpassing the country's annual expansion target of 2.5 GW.

The auction, held on August 1, saw 239 bids totaling 2,961 megawatts (MW) submitted, outstripping the 2,709 MW available. This is the first oversubscribed auction since February 2022, driven by a significant number of bids with older permits.

Klaus Mueller, President of the Federal Network Agency, hailed the auction as a milestone, noting that the bid volume exceeds the required target. Bid prices ranged between 5.73 and 7.35 euro cents per kilowatt-hour (ct/kWh), with an average awarded price of 7.33 ct/kWh, close to the maximum limit.

The agency will announce the volume for the next auction, scheduled for November, by October 18.

Source: reuters.com