SMC, Pan Pacific lead 3rd green power auction
San Miguel Corp. (SMC) could emerge as one of the biggest winners in the government’s third round of green energy auction (GEA), cornering 1,850 megawatts (MW) of capacity.
The Department of Energy (DOE) released on Tuesday the notices of award to winning bidders that have committed to deliver more than 6,600 MW of capacity.
While the notices of awards were issued, certificates of award will only be released once the winning bidders submit post-auction requirements. These include a performance bond, and a GEA-3 affidavit of undertaking to deliver the committed capacities, according to the DOE.
SMC’s San Roque Hydro Power, Inc. is tipped for a combined capacity of 1,600 MW for its two massive pumped-storage hydropower projects in Pangasinan and Benguet. The group committed to delivery years set for 2031 to 2032.
Its Aklan pumped storage hydroelectric power project is also slated to deliver 250 MW by 2031 to 2035.
Meanwhile, three projects of renewable energy developer Pan Pacific Renewable Power Philippines. Corp. are also cued for a win. These include a 300-MW impounding hydropower facility and a 2,000-MW pumped-storage hydropower plant.
Coheco Badeo Corp., Olympia Violago Water and Power, Inc. and Ahunan Power Inc. are also deemed potential winning bidders under the last bidding round for pumped-storage hydropower. Respectively, they offered capacities of 500 MW, 600 MW and 1,400 MW.
Energy Development Corp., a subsidiary of Lopez-led First Gen Corp., is also primed for the bid for geothermal capacity of 9.3 MW. These involve its Mindanao 3 Binary Geothermal Power Plant expansion project Phase 3 unit 1 and the Bago Binary Geothermal Power Plant Unit 1.
Bac-Man Geothermal Inc. is also ready with its Tanawon Geothermal Power Plant unit 1, with a committed capacity of 21.573 MW.
“This latest round under GEA-3 marks another significant milestone in the Philippine government’s effort to accelerate renewable energy development, enhance grid reliability, and meet long-term clean energy goals,” the DOE said.
