State to Realize Income of EUR 240 to 600 Million from Winners of Auctions for Wind Farms in Next 15 Years

Source: eKapija Monday, 21.08.2023. 09:19
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Over the 15-year period of the validity of the contracts of the winners of the auction of wind farms, Serbia will realize an income of EUR 240 to 600 million based only on the difference between the achieved and the market prices of electrical energy, the Ministry of Mining and Energy announced.

The average price achieved at the auction for wind power amounts to close to EUR 68 per MWh, whereas the current market price of electrical energy is EUR 110 per MWh.

– Considering that the winners at the auction pay to the state the difference between the market price and the offered price, according to all credible long-term projections for the prices of electrical energy, Serbia will realize an income of EUR 240 to 600 million in the next 15 years based on that alone. According to the current projections, in 2026, it will amount to around EUR 60 million – it is said on the website of the Government of Serbia.

As added, the winners at the auction are obliged to invest more than EUR 1 billion in various parts of Serbia in the next two to three years, which is extremely important for the construction industry and the development of the municipalities in which the projects are to be realized, that is, for the entire Serbian economy.

The auctions were carried out according to the model which had been implemented in Germany and Great Britain, where most of the green capacities have been built in the past 10 years.

– The winners at the auctions are companies from Israel, China, USA, UAE, Finland, some of which are listed on the stock exchanges of the world, but also from Serbia. The process was efficient with the technical support of the EBRD, transparent and digitized, so it was impossible to affect the selection of the winner in any way, because the software itself ranks the best offers, that is, the most favorable bidders – the ministry adds.

These are the first auctions within the Three-Year Plan of the System of Incentives, adopted by the Government of Serbia, which envisages the allocation of market premiums for 1,300 MW for producers from renewable energy sources in the next three years.

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