The second round of the government’s green energy auction (GEA) has concluded with the Department of Energy (DOE) granting notices of awards to 105 winning bids.
The GEA-2, which took place electronically on July 3, resulted in 3,440.756 megawatts (MW) of renewable energy capacities slated for development and installation between 2024 and 2026.
Citicore Renewable Energy Corp. (CREC) has been awarded 916.58 MW of renewable energy capacity. CREC submitted 17 bids, encompassing 554.58 MW for solar and 362 MW for onshore wind.
The company aims to deliver 435.58 MW of solar power by 2024 and 119 MW by 2026. The full capacity of 362 MW for wind generation is expected to be achieved by 2026.
CREC has expressed its commitment to delivering 1,000 MW of renewable generating capacity annually for the next five years to support the government’s goals to increase the renewable energy mix and offer competitive prices to consumers.
Phinma Solar Energy Corp. has secured 54 bids for roof-mounted solar installations in Luzon, two bids in the Visayas and two more in Mindanao.
Alternergy Holdings Corp., through Alternergy Tanay Wind Corp., has secured two onshore wind projects with a combined capacity of 140 MW.
These projects include an 86-MW wind power project in Tanay, Rizal, located adjacent to an existing wind farm in Pililla, and a 55-MW wind power project on Alabat Island in Quezon province.
Alternergy, via its subsidiary Liberty Solar Energy Corp., has also won the bid for a 67-MW direct current solar ground-mounted power project in Tarlac province.
Vicente Pérez Jr., Chairman of Alternergy, has announced plans to construct three projects over the next three years, with a total contracted capacity of 200 MW. This initiative will increase the company’s gross installed capacity from 80 MW to 384 MW.
Ground-mounted solar installations account for over half of the winning capacity from GEA-2, totaling 1,878.982 MW.
Rooftop solar contributes 9.390 MW, floating solar adds 90 MW and onshore wind brings in 1,462.384 MW.
The DOE has reported a 74.93% increase in the total winning capacity of GEA-2 compared to the previous auction round held last year.
The winning bidders will be granted 20-year power supply agreements for their renewable energy facilities.
They must submit their post-auction documents within 60 calendar days from the notice of award posting date or by September 10, 2023.
Failure to comply with the requirements will result in the cancellation of the award and forfeiture of the bid bond.
The GEA-2 aimed for a total installation capacity of 11,600 MW, with specific targets of 3,600 MW for 2024, 3,600 MW for 2025, and 4,400 MW for 2026.
The DOE clarified that the initially reported capacity of 3,580.76 MW resulted from the bids received during the auction.
However, after evaluation by the technical working group, the bid bonds of three potential winning bidders were not accepted due to non-compliance with the terms of reference.
As a result, the revised total winning capacity for GEA-2 stands at 3,440.756 MW.
Over 8,000 MW of capacity remained unsubscribed, representing approximately 70% of the available capacity.
It is uncertain whether the unsubscribed capacity will be available for rebidding.
The DOE intends to conduct the green energy auction annually, encouraging developers who did not win in the second round or could not submit offers to participate in future rounds.
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