Portugal’s first commercial floating solar auction resulted in a record negative price that signals bright prospects for water-based projects across Europe. Floating solar activity is growing as land becomes more scarce and Europe’s decision to hike renewable energy targets following Russia’s invasion of Ukraine has spurred governments to unlock new project opportunities.
EDPR bid a negative price of 4.13 euros/MWh ($4.50/MWh) for 70 MW of floating solar power at its giant Alqueva hydroelectric dam combined with 14 MW of additional solar capacity and 70 MW of wind.
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