MANILA -Hundreds of companies are qualified to participate in the competitive bidding of the Department of Energy (DOE) aimed at furthering the growth of renewable energy (RE) in the Philippines.
In a statement on Friday, the agency said that 339 out of 378 submissions from 118 companies were found compliant with the requirements of the Green Energy Auction (GEA) covering 11,600 megawatts (MW) of renewable energy.
Some of the eligible bidders are ACEN Corp. and AboitizPower Corp., the respective energy businesses of Ayala and Aboitiz groups, and Lopez-led First Gen Corp.
Various units of Alternergy Holdings Corp., Citicore Renewable Energy Corp. and PetroEnergy Resources Corp. also made it to the list.
The auction proper is scheduled for June 19, which will be conducted in three stages corresponding to the annual installation targets.
“Qualified bidders will be given a 45-minute period to place and enter their bids for each RE technology for target year installation,” the DOE said.
The DOE will hold the pre-bid conference on June 6, allowing bidders to raise clarifications on this bidding round and discuss the electronic bidding platform.
They are expected to post a bid bond of at least P1 million per megawatt.
The DOE will announce the winning bidders on June 28. Their renewable facilities will be awarded with 20-year power supply agreements.
Back in April, the DOE issued the notice of auction for 11,600 MW of RE capacity under the second round of GEA for installation between 2024 and 2026.
Qualified suppliers will deliver 3,600 MW of green energy by next year, another 3,600 MW by 2025 and 4,400 MW by 2026
The program was introduced last year to provide another avenue for the proliferation of nonconventional energy sources as the government aspires to hit 35 percent of RE in the energy mix by 2030 and 50 percent by 2040.
This second round of GEA bidding “is expected to encourage more investments in power generation” and “promote the growth of RE as one of the country’s primary sources of energy,” the DOE said.
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