Large-scale RE auction fails to hit installation target

THE GOVERNMENT was unable to hit its installation target of 10,653 megawatts (MW) of renewable energy (RE) capacities under the fourth round of green energy auction (GEA-4).

- Sheldeen Joy Talavera Reporter

In a statement late on Wednesday, the Department of Energy (DoE) said the latest auction results attracted 9,423.622 MW of RE capacities coming from 111 bids, against the installation target of 10,653 MW. This was equivalent to an 88% turnout rate.

The GEA-4 covered multiple RE technologies, including ground-mounted, roof-mounted, floating solar, onshore wind, and integrated renewable energy and energy storage systems (IRESS).

“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,” the DoE said.

These unsubscribed installation targets will be offered for subscription to other qualified bidders with accepted bids that exceeded the installation targets.

“This mechanism ensures that unsubscribed installation targets are maximized under GEA-4, and no opportunity for RE development is left unutilized,” it said.

The winning bidders are directed to submit post-auction requirements, including the affidavit of undertaking, performance bond, and system impact study.