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German network agency approves solar power projects

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By Reuters
German network agency approves solar power projects
FILE PHOTO: General view of photovoltaic (solar) panels near Munich, Germany August 24, 2016. REUTERS/Michaela Rehle   -   Copyright  Michaela Rehle(Reuters)
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FRANKFURT (Reuters) – Germany’s federal network agency on Wednesday reported it had approved 14 bids for a solar power capacity of 205 megawatts (MW) in this year’s third solar auction.

The majority of the approved capacity was for Mecklenburg-Vorpommern state in the northeast, at an average price of 5.47 euros (£4.9) cents per kilowatt hour (kWh), down from 6.59 cents awarded in the previous round.

The auction for initially 150 MW was oversubscribed and the bigger award resulted from one big single bid exceeding the limit but nevertheless being successful, it said.

(Reporting by Vera Eckert; Editing by Thomas Seythal)