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Spain has auctioned a total of 3 GW of renewable energy capacity under the country’s new auction design, the Contracts-for-Difference (CfD) model, resulting in the lowest ever price for new onshore wind energy in Europe, of EUR 20 per MWh, according to WindEurope.
The CfD model brings the lowest prices for renewables because it minimizes the financing costs of new projects. CfDs are cheap for governments, as governments get paid back as well as paying out. In this way, citizens win twice, both as consumers and taxpayers, according to WindEurope CEO Giles Dickson.
