December 7, 2023

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Alternergy keen to participate in green energy auction

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Alternergy Holdings Corp. is interested in participating in the second round of the green energy auction (GEA 2) program, the renewable energy company said on Wednesday. 

In a statement, Alternergy Chairman Vicente S. Perez said that the entry of additional renewables within the next three years highlights the government’s push toward the development of renewable energy (RE) sources. 

He said that to date, Alternegy has 29 active RE service contracts in its pipeline projects with ongoing development activities. 

“We are excited for the GEA 2 and will be pooling our resources to ensure a piece from the 11,600-MW (megawatt) capacity to be bid out,” Mr. Perez said. 

The renewable energy company is targeting to develop up to 1,370 MW including wind, offshore wind, solar, run-of-river hydro, and battery storage projects in the next five years.

“The entry of additional 11,600 MW of new capacity in the next three years through GEA 2 shows the strong push by the administration of President [President Ferdinand R. Marcos, Jr.] towards the development of renewable energy sources,” Mr. Perez said. 

The Energy department is set to conduct the second round of GEA in June with 11,600 MW in capacity on offer. Of this capacity, 3,600 MW are targeted for installation in 2024; 3,600 MW for 2025; and 4,400 MW for 2026. — Ashley Erika O. Jose


2023-04-05 06:37:22

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