The Department of Energy on Friday released the list of qualified bidders for the Green Energy Auction Program 2 after the evaluation conducted by the technical working group.
It said 339 of 378 submissions of registration for different renewable energy technologies from 118 companies were found compliant to participate further in the bidding process for the 11,600 megawatts of offered RE capacities.
Qualified bidders are required to post a minimum bid bond of P1 million per megawatt.
The DOE would hold the pre-bid conference on June 6, 2023 to provide an opportunity for the qualified bidders to raise clarifications on this round of RE capacity bidding.
A walkthrough of the electronic bidding platform will also be conducted during the conference.
The auction proper will be held on June 19, 2023 and will have three stages corresponding to the annual installation targets – 2024, 2025, and 2026.
The DOE said qualified bidders will be given a 45-minute period to place and enter their bids for each RE technology for target year installation.
The winning bidders will be announced by the DOE on June 28, 2023, following the post-evaluation process by the GEA-BEAC and the Green Energy Auction Committee- TWG.
The DOE will award the RE facilities to be set up by the winning bidders with 20-year power supply agreements as provided in the terms of reference of the GEA-2 Program.
The GEA-2 is seen to encourage more investments in power generation as well as promote RE growth as one of the country’s primary sources of energy.
It will facilitate a transparent and competitive selection of RE facilities to help realize the government’s target of 35 percent RE share in the energy mix by 2030 and 50 percent by 2040.
“As the GEA will be conducted on a yearly basis, the DOE encourages RE developers that were not able to qualify to participate in the succeeding auction rounds,” it said.