A total of 118 qualified companies have expressed interest in bidding for the 11,600 megawatts of renewable energy capacities available.
The next development being awaited by the bidders is the issuance of the final green energy auction reserve prices because that will serve as their ultimate determining factor if their expected revenue stream would justify the financial viability of their targeted investments. These technology-installations will be sited across Luzon, Visayas, and Mindanao grids. On an all-inclusive basis, the energy department has slated aggregate capacity deliveries of 3,600MW in 2024; then another 3,600MW in 2025; and heftier 4,400MW in 2026.
The payments to the developers will be on a per-kilowatt hour basis of delivered power, and that shall be anchored on the GEAR prices approved by the regulator.
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