The cheapest electricity price offered for all technologies under the first Green Energy Auction Program (GEAP) was at P3.40 per kilowatt hour (kWh) while the most expensive was at P5.76 per kWh, data from the Department of Energy (DOE) showed.
For all technologies, the cheapest price of electricity secured was the 40.40 megawatts (MW) of PAVI Green Renewable Energy Inc.’s solar project in Naga, Camarines Sur that is set to be completed by December next year.
The highest priced energy under the first batch of GEAP was from the 13.20 MW of PetroWind Energy Inc. for its wind power project expansion in Nabas, Aklan.
Under GEAP, interested renewable energy producers will compete for incentivized fixed power rates by offering their lowest price for a certain capacity. The government opened as much as 2,000 MW worth of capacity for its first batch that was conducted last June.
The Energy Regulatory Commission set the ceiling prices for the first round of auction under GEAP at P3.6779 per kWh for solar; P6.0584 per kWh for wind; P5.0797 per kWh for biomass; and P5.4913 per kWh for run-of-river hydro.
The first batch of GEAP involved 24 bidders, eight were from solar, another eight were from wind, seven were from run-of-river hydro and only one from biomass. The bidding will be conducted annually.
The lone bidder and eventual winner for biomass was the 3.40 MW from the Cotabato Sugar Central Co. Inc. in North Cotabato priced at P5.07 per kWh.
Five wind projects won contracts under the first GEAP including PetroWind’s Aklan project, together with the 70 MW of Amihan Renewable Energy Corp. in Pagudpud, Ilocos Norte at P3.86 per kWh; the 30 MW of Solar Philippines Calatagan Corp. in Lian, Batangas at P4.2 per kWh; the 160 MW of Bayog Wind Power Corp. that is also in Pagudpud, Ilocos Norte at P4.44 per kWh; and the 100.8 MW of CleanTech Global Renewables Inc. in Laguna and Quezon Province at P4.64 per kWh.
Six hydro power projects secured GEAP contracts including the 60 MW of Cordillera Hydroelectric Power Corp. in Kapangan and Kibungan, Benguet at P5.39 per kWh; the 20 MW of Hedcor Inc. in Sablan and La Trinidad, Benguet at P5.47 per kWh; the two 3.7 MW projects of Philnewriver Power Corp. both in Malitbog, Bukidnon at P5.49 per kWh; as well as the 4.85 MW and 6.9 MW projects of Philnew Hydro Power Corp. in Claveria, Cagayan de Oro and Clarin, Misamis Occidental both priced at P5.49 per kWh.
For solar technology, seven projects were awarded with GEAP contracts including PAVI Green’s Camarines Sur project together with the 99.98 MW of Greenergy Solutions Inc. in Talugtug, Nueva Ecija at P3.41 per kWh; the 200 MW of Solar Philippines Commercial Rooftop Projects, Inc. (CRPI) in Concepcion and Tarlac City, Tarlac at P3.67 per kWh; another 450 MW of from Solar Philippines CRPI in Tayabas, Pagbilao at P3.67 per kWh; another 120 MW from Solar Philippines CRPI in General Santos City at P3.6779 per kWh; 280 MW of Solar Philippines Nueva Ecija Corp. in Penaranda, Nueva Ecija at P3.67 per kWh; and the 300 MW from Solar Philippines Visayas Corp. in Kananga and Ormoc City, Leyte at P 3.6779 per kWh.
