Philippines’ DOE holds auction for 2,000MW clean energy
The auction was joined by 24 qualified bidders from various energy sectors.
A total of 24 qualified bidders participated in the first auction round of the Green Energy Auction Programme (GEAP) for a 2,000-megawatt (MW) capacity through electronic bidding, according to the Philippines’ Department of Energy (DOE).
In a statement, the DOE, through the Green Auction Energy Bids Evaluation and Award Committee (GEA-BEAC), said that of the 24 bidders, eight each were from the solar and sectors, seven were from run-of-river hydro, and one was from biomass.
“The first green energy auction in the Philippines was held today, which is a significant step in encouraging more power generation investments in renewable energy, while protecting the interest of Filipino consumers - a testament to the country’s commitment to developing indigenous and clean sources of energy at competitive prices," Energy Secretary and GEA-BEAC Chairperson Alfonso G. Cusi said after the auction.
The auction's success will set the benchmark for future auction rounds, as the resulting Green Energy Tariff will reflect the value of electricity, the department said. The programme also brings in “immediate and timely investments, it said.
It added that the programme will also provide support to the mandated participants of the Renewable Portfolio Standards (RPS) Programme to ensure compliance with the requirements as the GEAP is seen to help increase the country’s renewables capacity.
The department said the developers who were not able to participate in the action may file their intents in the next rounds as the auction is conducted annually.