Alternergy bags 3 contracts under DOE’s green energy auction

Listed renewable energy developer Alternergy Holdings Corporation has secured three contract projects from the second round of the Department of Energy’s (DOE) Green Energy Auction (GEA 2) program.

In a statement, Alternergy said it won all the three projects it bid under the GEA 2 program.

In particular, two of the company’s projects that secured contracts under the program are wind projects with a combined capacity of 140 MW under its project company, Alternergy Tanay Wind Corporation (ATWC).

The two wind projects are the 86 MW Tanay Rizal Wind Power Project located adjacent to its existing Pililla Rizal wind farm, and the 55 MW Alabat Island Wind Power Project located in the province of Quezon.

Likewise, Alternergy, through its recently acquired Liberty Solar Energy Corporation (LSEC), won the bid for its 67 MW of direct current solar ground-mounted power project located in Tarlac province.

“This is extremely positive news. Winning all our projects we bid for is a game changer for Alternergy. For the next three years, we will be building three projects with 200 megawatts (MW) of contracted capacity, a jump from [about] 80MW to 384MW in gross installed capacity…,” said Alternergy chairperson Vicente Perez Jr.

“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,” added Perez.

The three new projects, once operational, are seen to contribute to the company’s significant steady flow of revenues and accelerate the achievement of its goal of 1,096 gigawatt-hours of annual generation from renewable power.

Under the GEAP, winning bidders will sign a 20-year renewable power supply agreement with the National Transmission Company.

GEA 2 program

In a separate statement, the DOE said its GEA 2 program generated a total of 3,440.756 MW of renewable energy capacities committed for development and installation for the years 2024, 2025, and 2026 at “competitive prices.”

The Energy Department said more than half of the winning capacity committed is from ground-mounted solar with a total of 1,878.982 MW while 9.390 MW, 90 MW, and 1,462.384 MW are from rooftop solar, floating solar, and onshore wind, respectively.

The total winning capacity of GEA 2 has increased by 74.93% compared to the 1st auction round or GEA 1 held last year, it said.

The DOE said winning bidders are required to submit to the DOE their post-auction documents within 60 calendar days from the date of posting of the Notice of Award or until September 10, 2023 as prescribed under the applicable Terms of Reference.

Non- compliance with the requirements shall result in the cancellation of the award and forfeiture of the bid bond, it said. — RSJ, GMA Integrated News