CITICORE Renewable Energy Corp. (CREC) plans to participate in the second round of bidding scheduled this year for microgrid services in the remaining unserved and underserved areas in the country.
CREC said terms of the second round is more conducive for investors compared to the first round.
“We participated (in the first round) but we did not submit a bid but this next one looks promising since the first one is scattered and has no sale. In the next round, (areas) are slightly close so let’s see,” Oliver Tan, CREC president and chief executive officer, told reporters in a briefing on Tuesday.
He did not provide details.
The Department of Energy (DOE) said it will conduct the second round of competitive selection process (CSP) for interested investors of microgrid services.
A microgrid is the term used for a limited network of electricity users with a local source of supply that can function even if it is not connected to the national grid.
The DOE set deadline for bid submission in the second round of CSP for the Microgrid System Provider (MGSP) for the electrification of 41 lots, composed initially of 75 identified unserved and underserved areas of the country is on the fourth week of September.