Amp Energy, a renewable energy developer, has won capacity in Japan's first Feed-in-Premium (FiP) auction.
Five bids were chosen out of the 13 projects that were offered in the first auction, with a total capacity of 128.94 MW. Amp's bid for a 14 MWac project, which is now under development, received the third-highest capacity award in the auction and the second-highest FiP pricing among the projects with JPY9.88Y/kWh (US$0.07/kWh).
The Japanese government declared last year that starting in April 2022, it would switch from a Feed-in-Tariff (FiT) to a Feed-in-Premium (FiP) to enable the renewable energy producers to sell electricity on the spot market at a premium to wholesale prices. Amp will use the project to supply clean energy to the off-taker under a Power Purchase Agreement (PPA), with the FiP price secured.
