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Manila Bulletin devider Business devider Trade & Industry devider 40-year supply contract dangled to RE developers

40-year supply contract dangled to RE developers

Under 2nd RE capacity auction

Published Apr 18, 2023 09:41 am
A "lucrative contract" with up to 40-year duration is being dangled to renewable energy (RE) developers joining the second round of RE auction covering 11,600 megawatts to be held on June 19 this year. The reference (TOR) issued by the Department of Energy (DOE) emphasized that the initial term of the power supply agreement (PSA) will be for 20 years; but that can be extended for another 20 years on contract renewal. “The supply delivery period shall be twenty (20) years reckoned from the delivery commencement date applicable to a winning bidder, without regard to the date of execution of RE Purchase Agreement (REPA),” the TOR stipulated; adding that “the REPA may be extended for the full twenty (20)-year period, upon the prior renewal/extension of the relevant RE contract.” Interested RE project-sponsors that will be joining the Green Energy Auction (GEA)-2, which will be administered by the department; they can choose their delivery commencement dates to be either 2024; 2025 or 2026. For year 2024, the DOE is targeting 3,600MW of RE capacity added into the country’s energy mix; then additional 3,600MW in 2025; and 4,400MW in 2026. The DOE further noted that the filing of registration by qualified developers shall be carried out for a 10-day period from May 3-12 this year; while evaluation of the submitted documents by the technical working group (TWG) of the GEA-bids evaluation and awards committee (BEAC) will run from May 15 to 19. “Failure to submit any required documents, or submission of unacceptable documents – such as unnotarized documents when notarization is required - shall be a ground for disqualification,” the DOE stated. Following the evaluation process, the energy department indicated that it will post the list of qualified bidders via the DOE website by May 24; and qualified suppliers shall also be duly informed on the submission of all other requirements, including the posting of bond deposit. For those that failed to make it to the list, the DOE specified that “the GEA-BEAC shall notify in writing the qualified suppliers who failed to comply with the registration requirements stating therein the grounds for disqualification.” The pre-bid conference, which will serve as a venue for the qualified investors to raise their respective concerns and questions, shall also be held on May 29 this year. The project developers had likewise been apprised that “for RE projects covered by RE contracts which shall be completed in phases, the qualified suppliers may submit registration requirements on a per-phase basis,” qualifying further that “each phase has specific commencement delivery dates, and shall have appropriate metering facility and corresponding revenue meter.” Additionally, for RE facilities that are already operating and have capacities not legally impeded by other contractual commitments, the DOE conveyed that the qualified supplier “may submit registration requirements for the said portion or the entire capacity,” and such must also be backed up with the warranted dedicated metering facility and corresponding revenue meter. And for legacy projects – or the facilities already operating prior to the enactment of the RE Law in 2008, the project developers can also “submit registration requirements for the incremental RE capacity from such expansion or upgrade, provided that it shall have a dedicated metering facility and corresponding revenue meter.”

Related Tags

Department of Energy (DOE) power supply agreements Renewable energy (RE) RE auction
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