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Under Green Energy Auction Program, Philippines Awards 1.57 GW Of Renewable Energy

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growatt01-08-2022

The Green Energy Auction Bids Evaluation and Awards Committee (GEA-BEAC) of the Department of Energy of the Philippines publishes a 19 winners list for an auction recently held for 2 GW of renewable energy.

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In January, the GEA-BEAC started the auction. It had pre-selected 24 bidders for its final phase. It allocated 1,966.4 MW to renewables during the procurement exercise. Around 1.490.3GW was solar, 374MW was wind power, 119.1MW of the total was hydropower, and 3.4MW was biomass.

Solar Philippines Nueva Ecija Corp. won the auction and secured three solar projects with capacities of 200, 280, and 450MW in the Luzon region. It won a 300 MW capacity solar project in the Visayas and a 200-MW in Mindanao.

Pavi Green Renewable Energy won a 40.4 MW project in the Luzon region and Greenergy Solutions won a 99.9MW project. The agency has not revealed the final auction prices yet.

“The winning bidders were ranked based on their offers from the lowest to the highest bid price and stacked corresponding to the respective renewable energy technology per grid,” it said.

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The Energy Regulatory Commission has established a price cap for PV technology at PHP 3.628/kWh. The maximum wind power output is PHP 5.2887. The government of the Philippines has announced plans to launch the Green Energy Tariff Program auction in February 2020.

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