Cusi said the Department of Energy’s Green Energy Auction Bids Evaluation and Awards Committee conducted the first GEAP auction round on Friday. Read more👇
Cusi said the Department of Energy’s Green Energy Auction Bids Evaluation and Awards Committee conducted the first GEAP auction round on Friday.
The GEAP sets the benchmark for the future auction rounds as the resulting green energy tariff will reflect the value of electricity, according to the DOE. The DOE auctioned 900 MW solar capacity for Luzon, 260 MW for Visayas and 100 MW for Mindanao. For wind, DOE auctioned 360 MW for Luzon and 20 MW for Visayas. It also auctioned 80 MW of hydro capacity for Luzon and 50 MW for Mindanao.The Energy Regulatory Commission earlier set the Green Energy Auction Reserve for solar at P3.6779 per kilowatt-hour, wind at P6.0584 per kWh, biomass at P5.0797 per kWh and run-of-river at P5.4913 per kWh.
The GEA committee will then rank the bids from the lowest to the highest and stack the offers to the respective technologies. The DOE, through the committee, plans to declare the winning bidders this month.
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