The Philippine Department of Energy (DOE) has published the list of the 19 winners of the country’s first renewable auction, in which 2 GW were to be allocated. Overall, 1.97 GW of renewable capacities were allocated, among which 1.49 GW of large-scale solar, 374 MW of wind, 119 MW of hydro and 3.4 MW of biomass. The awarded projects must be commissioned between 26 December 2022 and 25 December 2025.
The company Solar Philippines was the main victor as it secured five solar PV projects totalling 1.43 GW. The company was awarded three projects in the northern region of Luzon with 450 MW, 280 MW and 200 MW capacities, as well as a 300 MW solar project in the Visayas (central Philippines) and a 200 MW project in Mindanao (South).
Recently, Solar Philippines had submitted offers to contract 10 GW of projects. These power supply agreements (PSAs) would total 9 TWh/year, enabling 10GW of projects scheduled to commence operations mostly between 2025 to 2026.
Final prices of the auction have not yet been revealed. The Energy Regulatory Commission had previously set the Green Energy Auction Reserve for solar at PHP3.7/kWh (US$6.8c/kWh), wind at PHP6.1/kWh (US$11.3c/kWh), biomass at PHP5.1/kWh per kWh (US$9.4c/kWh) and hydro at PHP5.5/kWh (US$10.2c/kWh).
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