X-ELIO Awarded 15 MW First Feed-In-Premium Auction In Japan

Spanish renewable energy developer company X-ELIO has received 15 MW from the Ministry of Economy and Trade Industry (METI) in Japan's first Feed-in-Premium (FIP) auction, which awarded 153.7 MW of new solar PV capacity.

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This first FIP auction since COD saw the award of the company's 15 MW project. The predicted start date for commercial operations is anticipated to be in the second half of 2024, and it will be situated in the Yamaguchi Prefecture.

Since beginning operations in Japan in 2012, X-ELIO has successfully created 380 MW of renewable energy. With this accomplishment, X-ELIO hopes to continue expanding and solidifying its position in the nation while supporting Japan's ambitious "Beyond-Zero" Carbon vision.

The Yamaguchi prefecture will be the site of the project, which is expected to be completed by the end of 2024 and have a 20-year contract.

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The Japanese Ministry of Economy and Trade Industry established the first FIP, and five bidders were given a total of 128.94MW after 13 projects submitted bids.

The FIP is targeted at projects with an output of 1MW or more and a bidding price restriction of ¥ 10/kWh (US$0.07/kWh), making this the 12th auction in Japan and the first of 2022.

Only five cents separated the lowest bidder, X-Elio, from the highest, who received the lowest bid price of 9.85/kWh.

"X-Elio is committed to supporting Japan's aspirations to make renewable energy a major power source within the local energy mix and we are thrilled to have been rewarded through this new important market mechanism," said Mirko Molinari, CCO at X-Elio.

Since it arrived in Japan in 2012, X-Elio has created 380MW of renewable energy projects.

Earlier, X-ELIO joined the market for battery energy storage systems (BESS). The 58 MW Uribe Solar PV plant, which is situated in Chile's Antofagasta desertic region, will house the company's first BESS project.