Philippines allocates 1.97 GW of PV capacity in renewables auction

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The Green Energy Auction Bids Evaluation and Awards Committee (GEA-BEAC), under the Philippines Department of Energy (DOE), has published a list of winning bidders for the Second Green Energy Auction Round (GEA-2).

The GEA-BEAC allocated 1,870.8 MW of ground-mounted PV capacity and 90 MW of floating solar power. It also assigned around 10 MW of rooftop PV capacity and 960.28 MW of onshore wind power.

It originally planned to allocate around 11.6 GW of renewable energy capacity, which means the auction was largely undersubscribed.

“The winning bidders were ranked based on their offers from the lowest to the highest bid price and stacked corresponding to the respective [renewable energy] technology per grid,” the authority said in a statement.

The selected developers will secure 20-year power purchase agreements.

In the first procurement exercise in the Philippines, which concluded in June 2022, the authorities allocated 2 GW of renewable energy capacity, with 1.49 GW coming from solar power.

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