The Department of Energy (DOE) has pre-qualified 118 bidders for the second round of the Green Energy Auction (GEA-2) program.
A total of 339 out of 378 submissions of registration for different renewable energy (RE) technologies from 118 companies were found compliant to participate further in the bidding process for the 11,600 megawatts (MW) offered RE capacities.
The agency has scheduled a pre-bid conference on June 6 and the auction on June 19.
According to the DOE, the auction will have three stages corresponding to the annual installation targets—2024, 2025, and 2026. The installations will be sited across Luzon, Visayas and Mindanao grids.
Qualified bidders will be given a 45-minute period to place and enter their bids for each RE technology for target year installation.
The winning bidders, which will be announced on June 28, will be awarded with 20-year Power Supply Agreements (PSAs) as provided in the Terms of Reference (TOR) of the GEA-2 program.
The GEA-2 is expected to encourage more investments in power generation as well as to promote the growth of RE as one of the country’s primary sources of energy by facilitating transparent and competitive selection of RE facilities to help realize the government’s target of 35 percent RE in the energy mix by 2030 and 50 percent by 2040.
Image credits: Alexey Kornylyev | Dreamstime.com
