Bids for a thousand gigawatt-hours received in reverse auction for renewable energy

Bids for the generation of 1,070 GWh of renewable energy were received in the reverse auction for renewable energy generation organised by the state and carried out by Elering.

A total of 10 bids from seven companies were received in the reverse auction. The producers plan to generate 893 GWh of this energy from wind and 177 GWh from the sun.

The price difference of the bids is €21,89 to €44.9 per MWh. If all the received bids meet the conditions of the reverse auction, all the bids with a price of €39.8 per MWh or less would be successful.

These data are provisional. The opening of the bids is followed by the bid verification and qualification process to make sure that all the proposed renewable energy projects meet the requirements. The government is expected to approve the results within 70 days, allocating the successful bidders support for the offered production volumes.

The offered price is guaranteed sales revenue per hour from which the exchange price of the respective hour is deducted upon payment of the support. The maximum support according to the conditions of the reverse auction is €20 per MWh.

The objective of the reverse auction is to obtain 650 GWh of renewable electricity for the market, of which at least half must be produced in the first and fourth quarter. Successful bidders will have to start production no later than on 1 July 2027.

The minutes of the opening of the received bids are available on the Elering website.