ACEN Corp., the listed energy arm of the Ayala group, is interested in participating in the fourth round of the green energy auction (GEA), which involves energy storage systems, the company’s president said.
“Depending on the size of the bid and the tenor, we’re interested but hopefully there’s enough time to prepare… for the project itself, the commercial operations date,” ACEN President and Chief Executive Officer Eric T. Francia told reporters on the sidelines of an event last week.
The Department of Energy (DoE) announced last week that it would conduct GEA-4 in the fourth quarter this year, which is designed to cover integrated renewable energy and energy storage systems (IRESS).
As described by the DoE, IRESS is “a comprehensive energy solution that combines renewable energy technology with energy storage systems.”
Energy storage systems include batteries, flywheel, or pumped storage hydropower systems.
“By combining renewable energy and energy storage, IRESS enhances the stability and reliability of the energy system, enabling a more consistent and efficient supply of power,” the DoE said.
Mr. Francia said that the company’s participation would depend on the rules and tenor, as it is not easy to build an IRESS.
“If it’s gonna be just one year, I don’t think anyone can build an IRESS plant in one year. Unless you already have the solar plant and then you will just need to add the battery,” he said.
He also said that ACEN “had a headstart” but not all of its projects are ready.
Currently, ACEN holds around 4.7 gigawatts (GW) of attributable capacity across the Philippines, Vietnam, Indonesia, India, and Australia. The company also has one GW of signed agreements and secured competitive tenders.
The DoE said it will release the indicative timeline of GEA-4 activities in the coming months, when it expects to issue a notice of auction.
The GEA program aims to promote renewable energy as one of the country’s primary sources of energy through competitive selection.
GEA was first conducted in 2022 and attracted 1,996.93 MW worth of bids for renewables, while GEA-2 was held in 2023 and awarded 3,440.756 MW. — Sheldeen Joy Talavera
