The Ministry of Energy (DOEN) has identified 12 qualified bidders, including units of First Gen Corp. and San Miguel Corp. (SMC), for the third round of the Green Energy Auction (GEA-3) that will be held this year.
In an advice released on Wednesday, the Doors announced that the registration documents submitted by the qualified suppliers were assessed during the registration period from 9 to 10 January.
Based on the Do’s list of qualified bidders, three generation companies compete for geothermal capacities: Maibarara Geothermal, Inc., Energy Development Corp. (A unit of first gene) and BAC-Man Geothermal, Inc.
For the editing of Hydro, the DOE PAN PACIVE RENEWABLE Power Phils identified. Corp. (Pan Pacific), Pulangi Hydro Power Corp. and United Hydro Power Builders Corp. as qualified bidders.
Seven generation companies will offer in pumped storage capacities: Ahunan Power, Inc., First Gen Hydro Power Corp., Olympia Violago Water and Power, Inc., Pan Pacific, San Roque Hydropower, Inc. (under SMC), Coheco Badeo Corp. and Repower Energy Development Corp.
The DIY is set to offer geothermal, seized hydro and pumped storage hydro capacities of a total of 4,650 megawatts (MW).
The government will auction 100 MW geothermal, 300 MW of seized hydro and 4,250 MW pumping-storage hydro.
The owner of the GEA-3 auction is scheduled for 11 February, while the issue of the allocation certificate has been established for 20 and 6 June respectively.
The GEA program is intended to promote renewable energy as one of the country’s primary energy sources through competitive selection. The government hopes to increase the share of renewable energy in the power mix by 2030 and 50% by 2040 to 35%.
The government held GEA for the first time in 2022 and attracted a total of 1,996.93 MW of renewable energy sources, while the second round in 2023 ended with 3,440.756 MW.
Before 2025, the Doe will perform two more auctions that focus on integrated renewable energy and energy storage systems and offshore wind energy.
“These projects will play a crucial role in complying with the growing electricity demand of the country and at the same time ensure that future power generation is becoming increasingly sustainable,” De DOE said. – Sheldeen Joy Talavera