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Germany's Federal Network Agency said it awarded contracts for almost 3 gigawatts (GW) of onshore wind energy in its latest auction, the highest volume ever, marking a significant step towards the country's renewable energy targets.
Germany aims to cover 80 per cent of its electricity needs with renewables by 2030, as a step to become climate neutral by 2045.
"This auction is a record. The bid volume of almost 3 GW exceeds the required annual expansion target of 2.5 GW," said agency President Klaus Mueller in a statement.
Some 239 bids totalling 2,961 megawatts (MW) were submitted for the Aug. 1 auction, exceeding the 2,709 MW on offer, making it the first oversubscribed auction since February 2022.
The agency attributed the oversupply to an unusually large number of bids with older permits being submitted compared with previous rounds.
Bid prices in the auction ranged between 5.73 and 7.35 euro cents per kilowatt-hour (ct/kWh), with the average awarded price reaching 7.33 ct/kWh, just below the maximum permitted price of 7.35 ct/kWh, it added.
The agency said it will determine the volume of the next auction, due in November, by October 18. -Reuters