With falling prices, renewable energy source become more competitive. Image source: Shutterstock (#565335787)
The German Federal Energy Network Agency announced the results of Germany’s first competitive wind power auction after accepting 70 bids totalling 807 megawatts from onshore wind projects. “The first tender for wind farms was successful, with a pleasingly high level of competition allowing an average surcharge of 5.71 cents”, Jochen Homann, president of the Federal Network Agency, said regarding the low bigs.
This follows a price of 44 cents per KWh for offshore wind last month, which was lower than expected as well. These prices for renewable energy continue to undercut the cost of building new gas power capacities.
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