The Green Energy Auction Bid Evaluation and Incentive Committee (GEA-BEAC) of the Philippines Department of Energy (DOE) has approved 24 bidders to participate in the auction to allocate 2 GW of renewable energy capacity it launched in January.
Of the 24 bidders, 8 were from solar, 8 were from wind, 7 were from run-off hydro, and 1 was from biomass, and the success of this competitive process will set the benchmark for future auctions as The resulting Green Energy Tariff (GET) will reflect the value of the electricity.
Authorities want to contract 1,260 megawatts of photovoltaic power, 380 megawatts of wind, 230 megawatts of biomass and 130 megawatts of hydropower capacity. About 900 MW may be allocated to Luzon province, while Visayas and Mindanao are expected to receive 260 MW and 100 MW, respectively.
The Energy Regulatory Commission (ERC) has set a ceiling price for PV technology at 3.628 pesos/kWh. Wind power is capped at PHP 5.2887.
