The Department of Energy awarded 105 bidders to develop renewable energy capacity under the Green Energy Auction Program 2.
Winning bidders include Citicore Renewable Energy Corp., Alternergy Holdings Corp. and ACEN Corp.’s subsidiary Giga Ace6 Inc.
The DOE said GEAP 2 generated 3,440.756 megawatts of RE capacities that were committed for development and installation from 2024 to 2026.
This is lower than the previously announced 3,508,76 MW auction results as three bidders failed to comply with the terms of reference.
CREC said Thursday it was awarded 916.58 megawatts of RE capacity, while Alternergy won 190.30 MW of RE capacity.
CREC submitted 17 bids, including 554.58 MW for solar and 362 MW for onshore wind.
It is slated to deliver 435.58 MW of solar power by 2024 and another 119 MW by 2026. The company will deliver 362 MW of wind capacity by 2026.
“This forms part of the company’s commitment to deliver 1,000 MW of renewable generating capacity per year for the next five years,” CREC said in a statement.
Meanwhile, Alternergy won all of the projects it bid for under GEAP 2 on July 3.
“For the next three years, we will be building three projects with 200 MW of contracted capacity, a jump from 80 MW to 384 MW in gross installed capacity in three years,”Alternergy chairman Vicente Pérez Jr. said.
“Having built the country’s earliest wind and solar farms, our management team has strong experience in constructing wind and solar projects. We anticipate there will be challenges but we are excited and ready to proceed with the projects we won under GEA 2,”Perez said.
GEAP is DOE’s initiative to attract current and incoming power players to invest in RE generation which will drive the agency’s goal of a 35-percent RE capacity mix by 2035 and 50-percent RE by 2040.
GEAP 2 winning bidders secured a 20-year power supply agreement with the government, and companies will be paid according to actual energy generated in accordance with the Wholesale Electricity Spot Market rules.
