SMC, Ayala, Aboitiz, Lopez groups bid for RE capacities
Ang-led San Miguel Global Power Holdings Corp., Ayala-led ACEN Corp., Aboitiz Power Corp. and Lopez-led First Gen Corp. lead the list of companies that submitted bids to produce new renewable energy (RE) output under the latest auction.
However, the Department of Energy (DOE) noted weaker investor participation this time around as committed renewable energy capacity reached just 9,423.622 megawatts (MW), or 88 percent of the goal of 10,653 MW.
Nevertheless, the agency said that the fourth green energy auction (GEA-4) conducted earlier this week presented “strong developer interest.”
The subscribed capacities, the DOE noted, came from a total of 111 accepted bids.
“While the auction successfully subscribed to a large majority of the installation targets, there remain unsubscribed installation targets, notably floating solar, onshore wind, and Iress (integrated solar with energy storage systems),” it said.
But the DOE said the unsubscribed capacities would be offered to other qualified bidders with accepted proposals.
Winning bidders
It earlier noted that the GEA-4—which focused on ground-mounted, roof-mounted, floating solar, onshore wind and Iress—had received about 170 bids from a total of 142 companies.
Also submitting bids were Alternergy Holdings Corp., Saavedra-led Citicore Renewable Energy Corp., Basic Energy Corp., NexGen Energy Corp. and PetroEnergy Resources Corp.
The agency did not name the winning bidders for this round, however.
“The results of GEA-4 affirm the strong partnership between government and the private sector in driving renewable energy deployment,” DOE chief Sharon Garin said in a statement late Wednesday.
“By securing over 9,000 MW of new clean energy commitments, and by offering unsubscribed installation targets to other eligible bidders, we are ensuring that our transition is ambitious, inclusive, and resilient,” the energy secretary added.
Commercial operations of the committed projects are targeted to begin from 2026 to 2029.
The green energy auction program is an initiative designed to boost the renewable energy market.
It supports the current administration’s target of scaling up renewables’ share in the power generation mix to 35 percent by 2030 from the current 22 percent.
