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Philippine Solar announces plans to develop up to 10GW of solar PV

Seetao 2022-06-28 10:29
  • The layout of the Philippine photovoltaic industry will accelerate the deployment of renewable energy in Asia
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Nearly 1.5GW of solar PV in the Philippines has been contracted through the country's new round of renewable energy auctions. The auction results, confirmed by the country's energy ministry, show that nearly 2GW of renewable energy projects were awarded contracts through the green auction scheme, with contracts now signed to provide electricity between 2023 and 2025. Contracts will be awarded at prices below or equal to the auction reserve price set by the country's Energy Regulatory Commission. The energy department said the resulting price would further be used as a benchmark price for renewable energy to reflect the current value of electricity.

The projects awarded the contract are located in three regions of the Philippines, namely Luzon, Visayas and Mindanao. Luzon will support over 1GW of solar PV through this mechanism, while the Visayas and Mindanao will support 300MW and 120MW of solar PV, respectively.

Local developer Solar Philippines won most of the contracts awarded for solar PV, securing support for three projects with a total capacity of 930 MW in Luzon and projects in Visayas and Mindanao.

Other solar PV winners include PAVI Green and Greenergy Solutions. Philippine Solar has revealed plans to develop up to 10GW of solar PV in the country, with projects to come online between 2025 and 2026. In line with the Philippines' decarbonization agenda, tenders for the Green Auction Scheme will be held annually.Editor/XingWentao

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