Japan’s Green Investment Promotion Organization has released the final results of its latest auction for utility-scale solar energy projects.

The state-run agency said that 89.2 MW of PV projects were selected in the procurement exercise. It was Japan’s 28th auction for utility-scale solar and was expected to assign 91 MW of generating capacity.

The 29 selected projects range in size from 350 kW to 29.5 MW. 

The lowest bid was JPY 0.0/kWh and was submitted for eight projects with capacity ranging from 400 kW to 2 MW. Thes facilities had likely secured a private power purchase agreement for the sale of electricity and participated in the auction to secure grid connection.

The highest bid of JPY 7.89 ($0.049)/kWh was submitted for five 2 MW projects submitted by the same developer – KA Solar. The average final price came in at JPY 6.74/kWh, with the ceiling price being JPY 9.60/kWh.

The 27th auction allocated 79 MW of PV projects at a final average price of JPY 4.61/kWh.

In the 26th auction, the Green Investment Promotion Organization assigned 75.3 MW across 37 projects. The lowest bid was JPY 4.97/kWh and the highest JPY 8.75/kWh.

In the 25th auction, the Japanese authorities allocated 223.3 MW at an average price of JPY 6.58/kWh. In the 24th auction, the average final price came in at JPY 4.06/kWh and the allocated capacity was 79 MW. In both these procurement exercises, the lowest bid was also JPY 0.00/kWh.

In the previous ten rounds, held between March 2025 and March 2022, the lowest prices ranged between JPY 5.06/kWh and JPY 8.85/kWh.

In 2021, the Japanese government allocated 675 MW of PV capacity across three different auctions. In previous auctions, it allocated 942 MW.