The auction was organized by the Iberian Energy Derivatives Exchange (OMIP).
The operation closed at a final price of EUR 39.60 per MWh.
In July 2015, Endesa said it will encourage quarterly auctions, with a plan to buy up to 500 GWh, based on each period’s solar production.
The establishment of such auctions resulted the development of a specific index for solar products, dubbed SPEL Solar, the first in Europe.
Endesa said it is used as a reference to analyze the progress and behaviour of this technology in the financial markets.
Since the announcement of first solar auction in July, Endesa completed the existing offer in the financial market with other products intended at renewable producers.
In the medium-term, Endesa has the S3 product, a three-year contract for any renewable installation that guarantees a fixed return on investment.
In the longer term, the company offers fixed price power purchase agreements that support financing and stimulate market investments in renewable energy installations.
The next solar energy auction promoted by Endesa is due to take place in June this year.
Endesa provides services to over 11 million customers and employs more than 10,000 people.
Image: A worker installing solar panels. Photo: Courtesy of Endesa.
