MANILA -Solar power projects dominated the auction for renewable energy (RE) capacity recently held by the Department of Energy (DOE).
In a statement, the DOE said it awarded 105 contracts to several industry players for renewable projects with a total capacity of 3,440.756 megawatts (MW) following the conclusion of the second round of its Green Energy Auction (GEA-2) program.
The subsidiaries of Citicore Renewable Energy Corp., ACEN Corp., PetroEnergy Resources Corp. and Alternergy Holdings Corp. are among the winning bidders.
The aforementioned capacity was lower than 3,580.76 MW of committed capacities via GEA-2 as three winning bidders failed to comply with the requirements.
“The 3,580.76 [MW] was the result of the auction proper based on the bids sent during the auction day. But since the bids were further evaluated by the technical working group, bid bonds of three potential winning bidders were not accepted for failure to comply with the TOR (terms of reference), hence the 3,440.756 [MW],” the DOE said.
The 3,580.76 MW represents 29.7 percent of the 11,600 MW offered by the DOE to RE developers under GEA-2.
Yet, this was higher than about 2,000 MW of renewable capacity auctioned off under the first round of GEA last year covering 19 contracts.
Broken down, ground-mounted solar projects cornered more than half of the winning capacity with 1,878.982 MW, followed by onshore wind projects with 1,462.384 MW. Floating solar facilities totaled 90 MW and rooftop solar 9.390 MW.
“The total winning capacity of GEA-2 has increased by 74.93 percent compared to the first auction round or GEA-1 held last year,” it added.
Winning bidders are given within 60 calendar days from the date of posting or until Sept. 10 this year to submit the post-auction documents. Noncompliance with the requirements shall result in the cancellation of the award and forfeiture of the bid bond.
READ:
Renewable energy firms shun DOE’s green power auction
DOE issues notice of auction for 11,600-MW renewable energy capacity
ERC sets ceiling prices for green energy auction
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