Japan Solar Update: No.168 (Sept 29 ~ Oct 3, 2025)
Japan’s 25th PV tender was oversubscribed, with the average winning bid rising to 5.38 yen/kWh (3.66 cents/kWh), up 1.32 yen from the previous round. Eight projects totaling 8.2 MW were awarded at zero yen. Looking ahead, the 26th tender will target 163 MW, with strong competition expected as unsuccessful projects reapply.
<Key points>
- In the 25th tender for PV projects, bidding capacity exceeded the target tender capacity, continuing the strong momentum following the 23rd and 24th tenders
- Against the ceiling bid price of 8.83 yen/kWh (6.00 cents/kWh) (pre-announced) for the 25th tender, the average winning bid price was 5.38 yen/kWh (3.66 cents/kWh), an increase of 1.32 yen/kWh (0.90 cents/kWh) from the 24th tender. Eight projects totaling 8.2 MW (less than the 24th tender) were awarded at the tender price of zero yen
- The target capacity for the 26th tender is 163 MW. Projects that were not awarded in the 25th tender are expected to participate in the 26th tender
Summary of the results of the PV tenders in FY 2024 and FY 2025 (20th to 25th tenders)
and the target capacity of the 26th tender
Figure 1 Summary of the tenders in FY 2024 and FY 2025 and the detailed results of the 25th tender for PV projects
Source: Results of the 25th tender (second tender of FY 2025) for PV projects announced by the Organization for Cross-regional Coordination of Transmission Operators, JAPAN (OCCTO), etc., compiled by RTS Corporation