Philippines approves 24 bidders for 2 GW renewables auction – pv magazine International

The Inexperienced Power Public sale Bids Analysis and Awards Committee (GEA-BEAC) of the Philippines’ Division of Power (DOE) has accredited 24 bidders to compete in an public sale to allocate 2 GW of renewable power capability it launched in January.

“Of the 24 bidders, eight had been from photo voltaic, one other eight had been from wind, seven had been from run-of-river hydro, and one was from biomass,” the DOE stated. “The success of this aggressive course of will set the benchmark for the long run public sale rounds, because the ensuing Inexperienced Power Tariff (GET) will replicate the worth of electrical energy.”

The ministry stated a brand new renewable power public sale might be held in 2023. Builders that didn’t qualify for final week’s public sale can file their challenge proposals within the subsequent spherical, it stated.

“The primary inexperienced power public sale within the Philippines was held right this moment, which is a major step in encouraging extra energy era investments in renewable power, whereas defending the curiosity of Filipino customers – a testomony to the nation’s dedication to creating indigenous and clear sources of power at aggressive costs,” stated Power Secretary Alfonso G. Cusi.

The authorities wish to contract 1,260 MW of PV, 380 MW of wind energy, 230 MW of biomass, and 130 MW of hydropower capability. Round 900 MW will doubtless be assigned to Luzon province, whereas the provinces of Visayas and Mindanao are anticipated to be awarded 260 MW and 100 MW, respectively.

The Power Regulatory Fee (ERC) has set a cap worth for PV expertise at PHP 3.628 ($0.066)/kWh for the train. The cap for wind energy is PHP 5.2887.

The federal government of the Philippines introduced plans to introduce the Inexperienced Power Tariff Program public sale in February 2020.