Given a strong participation in the RenovAR auction round 1, the government decided to schedule an additional auction round (1.5) to award additional renewable capacity contracts to the developers. Only solar and wind projects that qualified in the first round of auction, but failed to win contracts, were allowed to participate in the RenovAr 1.5 round. Auction was run in November 2016 and the results were announced on 25th November 2016.
Renovar 1.5 round was opened for 400 MW of wind and 200 MW of solar PV projects. The round was again heavily oversubscribed with projects totalling 2.5 GW participating. In effect, government awarded contracts to 1.28 GW capacity.
Summary of the auction results:
Capacity Contracted (MW)
Average Price (USD/MWh)
Maximum Price (USD/MWh)
Minimum Price (USD/MWh)
Contracts were awarded for period of 20 years. Projects must be commissioned between 2017 and 2019.