The much-awaited Green Energy Auction Program 2 (GEAP-2) will be held on July 3, the Department of Energy (DOE) announced over the weekend.
DOE originally planned to conduct the auction on June 19 but moved it to a later date pending the issuance of the GEAR and to give interested bidders time to prepare their bids. The issuance of the notice of award shall be on or before July 12.
DOE’s bid bulletin no. 4 sets the bid bond posting for GEAP 2 before 12 noon on June 30. The bidders shall post a bid bond of P1 per megawatt.
ERC set the GEAR price for ground-mounted solar at P4.4043 per kilowatthour, rooftop solar at P4.8738 per kWh, floating solar at P5.3948 per kWh, onshore wind at P5.8481 per kWh, biomass at P5.4024 per kWh and biomass waste-to-energy at P6.2683 per kWh.
The GEAR Prices are the maximum price offers in peso/kWh that shall be used as the ceiling price in the auction.
The said GEAR prices or ceiling prices are applicable to the 6,715 MW of ground-mounted solar, 605 MW of solar rooftop, 300 MW of floating solar, 3,720 MW of onshore wind, 230 MW of biomass, and 30 MW of waste to energy from 2024 to 2026