There were 13 winners in Portugal's inaugural, 1.15-GW solar energy auction. The amount on offer was more than double Portugal's existing solar power capacity.

Portuguese newspaper Jornal de Negocios reported that Iberdrola won seven of the 24 licenses on offer and France's Akuo won a license to develop 370 MW of solar power capacity.

Those offering the biggest discounts to a bidding tariff of 45 euros/MWh based on site locations were awarded licenses.

“This first auction in Portugal was a success,” energy secretary Joao Galamba told Reuters. “There were brutal discounts and, in addition to getting the lowest prices in Europe, we hit new world lows...

“This auction shows that the energy transition, to which the government is committed, not only can strongly accelerate investment and the penetration of renewables in Portugal, but it can be done at very low prices,” Galamba added.