SP New Energy Corp. (SPNEC) has requested the Department of Energy (DOE) to terminate its notice of award under the first Green Energy Auction round (GEA-1) covering the company’s 280 megawatts (MW) Sta. Rosa solar project in Nueva Ecija.
Emmanuel Rubio, SPNEC president and chief executive officer, said the project faced a transmission issue that is beyond the company’s control.
“Our request remains subject of course to DOE approval and (is) well within the parameters established in GEA-1 guidelines. SPNEC remains as a committed partner of the government’s thrust to increase the share of RE in the overall energy mix of the country, as we continue to assess and develop opportunities while we progress with execution our existing projects,” Rubio said, in a message to reporters.
SPNEC’s Sta. Rosa solar project was among the first batch of RE projects that were supposed to enjoy the benefits of GEA.
GEA was first conducted in June 2022 that attracted a total of 1,996.93 MW worth of RE comprised of 1,490.38 MW ground-mounted solar; 374 MW of onshore wind; 99.15 MW of hydro; and 3.4 MW of biomass.
Under the current setup of GEA, interested renewable energy producers will compete for incentivized fixed power rates by offering prices that are lower than or equal to GEA reserve prices set by the ERC.
