The cheapest electricity offered for all technologies under the second Green Energy Auction (GEA2) is P3.5950 per kilowatt hour (kWh) while the most expensive is P5.8481 per kWh, data from the Department of Energy (DOE) showed.
For all technologies, Labrador Green Energy Corp.’s 200 megawatts (MW) ground-mounted solar project in Pangasinan that is set to be completed by October 2025 is the supply that was secured at the cheapest price.
Citicore Wind Energy Corp.’s 30 MW wind power project in Camarines Sur that will be completed by December 2026 is the highest bid in the second batch of GEA.
Under GEA, interested renewable energy (RE) producers compete for incentivized fixed power rates by offering their lowest price for a certain capacity from a specific RE technology.
The Energy Regulatory Commission earlier set ceiling prices for GEA2 at P4.4043 per kWh for ground-mounted solar, P4.8738 per kWh for rooftop solar, P5.3948 per kWh for floating solar, P5.8481 per kWh for onshore wind, P5.4024 per kWh for biomass and P6.2683 per kWh for biomass waste-to-energy.
GEA2 had 105 successful bids: 58 rooftop solar, 34 ground mounted solar, 12 offshore wind and a lone bid for floating solar.
No bids were received for projects utilizing biomass and waste-to-energy technologies.
During the first round of GEA conducted last year, the cheapest electricity price offered for all technologies was at P3.40 per kWh for the 40.40 MW solar project in Naga, Camarines Sur of PAVI Green Renewable Energy, Inc. that is set to be completed by December this year.
Meanwhile, the highest bid for the first GEA was P5.76 per kWh for 13.20 MW of PetroWind Energy Inc. for its wind power project expansion in Nabas, Aklan, which must be operational no later than December 25, 2025.