Only 30.9 percent or 3,580.76 megawatts (MW) of renewable energy (RE) capacities out of the 11,600 MW made available by the Department of Energy (DOE) under the Green Energy Auction (GEA-2) program received bids from interested developers.
Under GEA-2, interested RE producers will compete for incentivized fixed power rates by offering prices that are lower than or equal to the Green Energy Auction Reserve (GEAR) prices set by the Energy Regulatory Commission (ERC).
DOE said a total capacity of 1,968.98 MW has been committed for the construction of ground-mounted solar for 2024 to 2026.
For rooftop solar, a total of 9.39 MW was committed for 2024 and 2025, and 90 MW of floating solar in 2026.
For onshore wind, a total of 1,512.384 MW has been committed for 2025 and 2026.
No commitments were received for the development of biomass and waste-to-energy projects under GEA-2.
The ERC pegged the prices for GEA-2 at P4.4043 per kilowatt hour (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.
DOE said the list of winning bidders will be posted next week. They will be ranked based on offers from the lowest to highest bid prices and stacked corresponding to the respective RE technology per grid.
The agency said notices of award will also be released next week, while certificates of award will be issued to winning bidders upon submission of post-auction requirements within a 60-day period after providing performance bond, affidavit of undertaking to deliver the committed capacity, and a statement that the RE contract has been executed for non-holders of contracts prior to GEA-2 registration.
DOE warned that non-compliance with the requirements will result in the forfeiture of the award and the bid bond.
Since GEA will be conducted yearly, DOE has urged RE developers that did not win in the second auction round and those that were not able to submit offers to participate in subsequent auctions.
“We will review and we will also have discussions with the auction participants. We will decide on the unsubscribed capacity after our discussions with the auction participants,” Rowena Guevara, DOE undersecretary, said in a separate statement.
