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Philippines allocates 1.57 GW of solar in 2 GW renewables auction

The Green Energy Auction Bids Evaluation and Awards Committee (GEA-BEAC) of the Philippines’ Department of Energy (DOE) has published a list of 19 winners of a recent auction to allocate 2 GW of renewable energy capacity.

The GEA-BEAC launched the auction in January. It had previously pre-selected 24 bidders for the procurement exercise’s final phase. Overall, it allocated 1,966.4 MW of renewables in the procurement exercise. About 119.1 MW of the total was hydropower, 1.490.3 GW was large-scale solar, 374 MW was wind power, and 3.4 MW was biomass.

The main winner of the auction is Solar Philippines Nueva Ecija Corp. (SPNEC), which secured three PV projects with capacities of 200 MW, 280 MW, and 450 MW, in the Luzon region. It also won a 300 MW solar project in the Visayas region and a 200 MW scheme on the island of Mindanao. 

In the Luzon region, Pavi Green Renewable Energy secured a 40.4 MW PC project and Greenergy Solutions won a 99.9 MW project. However, the agency has yet to reveal the final prices in the auction.

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“The winning bidders were ranked based on their offers from the lowest to the highest bid price and stacked corresponding to the respective renewable energy technology per grid,” it said, without providing additional details.

The Energy Regulatory Commission (ERC) has set a cap price for PV technology at PHP 3.628 ($0.066)/kWh for the exercise. The cap for wind power is PHP 5.2887.

The government of the Philippines announced plans to introduce the Green Energy Tariff Program auction in February 2020.

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Source: pv magazine