The Philippines has held its first renewable auction, offering a total capacity of 2,000 MW. Specifically, the country was tendering 800 MW of solar in Luzon, 260 MW for Visayas and 100 MW for Mindanao. In addition, 360 MW of wind capacity was available for Luzon and 20 MW for Visayas. 80 MW of hydro capacity was auctioned for Luzon and 50 MW for Mindanao, as well as 60 MW of biomass for Luzon, 120 MW for Visayas and 50 MW for Mindanao.
Twenty-four qualified bidders took part in the tender, with 8 bids for solar, 8 for wind, 7 for hydro and 1 for biomass. The project must be commissioned between 26 December 2022 and 25 December 2025. Previously, the Energy Regulatory Commission 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).
In addition, Solar Philippines has submitted offers to contract its 10 GW of projects. If approved by customers and regulators, these power supply agreements (PSAs) would total 9 TWh/year, enabling 10GW of projects scheduled to commence operations mostly between 2025 to 2026
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