The Organization for Cross-regional Coordination of Transmission Operators, JAPAN (OCCTO) announced the results of the 12th tender for PV projects under the FIT/FIP programs (the first round in FY 2022).

In the FIT tender for projects between 250 kW – < 1 MW, 39 projects totaling 24.8 MW participated and all were successful, falling short of the 50 MW tender target capacity. The lowest winning bid price was 9.80 Yen/kWh (7.25 cents/kWh), the weighted average bid price was 9.93 Yen/kWh (7.34 cents/kWh), and the highest winning bid price was 10.00 Yen/kWh (7.4 cents/kWh). In the FIP tender for projects of 1 MW or larger, five projects totaling 128.9 MW participated and all were successful, falling short of the 175 MW tender target capacity. The lowest winning bid price was 9.85 Yen/kWh (7.28 cents/kWh), the weighted average bid price was 9.87 Yen/kWh (7.3 cents/kWh), and the highest winning bid price was 9.90 Yen/kWh (7.31 cents/kWh). The largest successful project was a 76.8 MW project by Pacifico Energy Tokuyama LLC, with a price of 9.86 Yen/kWh (7.3 cents/kWh). Although it is considered more difficult to finance projects under the FIP program, which is a market-linked introduction support system, compared to the conventional FIT program, several large-scale FIP projects are under development.

The target capacity for the next tender for PV projects (13th tender) will be 225 MW in total (50 MW for FIT tender, and 175 MW for FIP tender), the same as the 12th tender. Note: 1 JPY = 0.00739 USD (as of June 27, 2022)