Polaris Solar Photovoltaic Network News

The Philippine Energy Regulatory Commission (ERC) has announced the top price for an upcoming 2GW renewable energy auction.

It is reported that at this auction, the price ceiling for Photovoltaic was set at PHP 3.628/kWh, while the price ceiling for wind power was PHP 5.2887.

The ERC also said that bids for biomass and river hydropower projects must not exceed PHP 5.548/kWh and PHP 5.8705/kWh, respectively. The ERC explained in a specific document that the PV price cap was set taking into account a PV capacity of 100 MW and an installation cost of $864.1 per kW.

In addition, the ERC makes an assumption that the plant will sell power through a 20-year power purchase agreement with a net capacity factor of 21.3% and an estimated annual operating and management cost of approximately $482,743.12. The LCOE is estimated to be around PHP 2.8075/kWh. The Philippine government hopes to reach an agreement through the upcoming procurement campaign to purchase 1,260MW of photovoltaic power,380MW of wind power, 230MW of biomass power and 130MW of hydropower.

(This article is compiled from pv-magazine, please indicate the source when reprinting)