ARTICLE
29 November 2021

Floating Solar Auction In The Horizon!

MV
Macedo Vitorino

Contributor

Macedo Vitorino was established in 1996, focusing its activity on advising domestic and foreign clients in specific activity sectors, including banking, telecommunications, energy and infrastructures.

Since the incorporation of the firm we have been involved in several high profile transactions in all of the firm's fields of practice, including banking and finance, capital markets, corporate and M&A, etc.. We have also acted on many complex disputes and corporate restructurings.

Macedo Vitorino has strong relationships with many of the leading international firms in Europe, in the United States and in Brazil, which enable us to handle cross-border transactions effectively.

The Portuguese government published yesterday the bases of the new solar energy auction dedicated to floating solar.
Portugal Energy and Natural Resources

The Portuguese government published yesterday the bases of the new solar energy auction dedicated to floating solar.

The new legislation unifies tender procedures for the simultaneous allocation:

  • Of reservation of capacity titles for the injection into the Public Service Electricity Network of electricity from floating photovoltaic plants to be installed in water dams; and
  • Of titles for the private use public domain for such purpose.

Unlike the 2019 and 2020 auctions, this auction will focus exclusively on water reservoirs. Promoters will make not one, but two bids:

  • One bid for the price to produce electricity through solar energy; and
  • Another for the occupation of the public water domain.

In any case, the bidding will again follow the two already available modalities: remuneration to the network and fixed tariff, for a period of 15 years.

This solar energy auction will include the Paradela, Alto Rabagão, Vilar Tabuaço, Salamonde, Alqueva, Cabril and Castelo de Bode reservoirs, with a total maximum implementation area of 445 hectares and an estimated total connection power of 362.5 MVA.

The procedure details for the new auction will be published in the next few days.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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