Alternergy to vie for projects under ‘green’ energy program

MANILA  -Renewable energy firm Alternergy is seeking to participate in the second round of the national government’s Green Energy Auction (GEA-2) Program that will bid out 11,600 megawatts (MW) of new generation capacity in the next three years.

Former Energy Secretary and Alternergy chair Vicente Perez said his company and its subsidiaries had 29 renewable energy (RE) service contracts in the pipeline that could support the program of the Department of Energy (DOE).

“We are excited for GEA-2 and will be pooling our resources to ensure a piece from the 11,600 MW capacity to be bid out,” he said in a statement last week.

The DOE issued a notice of auction for GEA-2 on March 27 as it sought power providers that would have a ready capacity of 3,600 MW by next year, another 3,600 MW by 2025 and 4,400 MW by 2026.

These will be sourced from ground-mounted solar, roof-mounted solar, floating solar, onshore wind and biomass projects, according to the agency.

The terms of reference for the bidding will be released 20 days after the issuance of the notice of award; contracts will be awarded in June.

Launched last year, the GEA Program aims to provide an additional market for clean energy in the country through competitive electronic bidding of renewable energy capacities.

Alternergy recently debuted on the Philippine Stock Exchange as the first initial public offering this year, raising P1.61 billion in fresh capital to fund its portfolio of renewable energy projects.

This includes Alternergy’s plan to develop 33 MW of solar energy, 220 MW of onshore wind and 50 MW of run-of-river hydro projects in the next three to five years.

The company has a more expansive goal of developing about 1,370 MW of clean energy projects in the next five years. INQ