The Department of Energy (DOE) issued notice of awards for 105 winning bids under the second round of the green energy auction (GEA-2) in the Philippines. Under the auction, around 3.44 GW of renewable energy (RE) capacity was offered which were to be delivered between 2024 and 2026.
More than half of the winning capacity under GEA-2 is from ground-mounted solar, at around 1.88 GW. However, almost 8 GW of capacity was unsubscribed.
Of this, Citicore Renewable Energy Corporation (CREC) was awarded 916.58 MW of RE capacity including 435.58 MW in solar power by 2024, and another 119 MW by 2026. The company will also deliver 362 MW in wind capacity by 2026.
Meanwhile, Alternergy Holdings Corporation was awarded 140 MW of offshore wind capacity and Liberty Solar Energy Corporation, an Alternergy unit, secured the bid for a 67 MW solar ground-mounted power project in Tarlac province.
Winning bidders will be awarded 20-year power supply agreements.
