Prime Infrastructure Capital, Inc. (Prime Infra), led by tycoon Enrique K. Razon, Jr., has secured a major share of the 6.2-gigawatt (GW) capacity offered in the Department of Energy’s (DOE) third Green Energy Auction (GEA).

Prime Infra President and CEO Guillaume Lucci said Thursday the auction will help stabilize power prices in the long run. In a Notice of Award issued Monday, the DOE named Prime Infra’s 600-megawatt (MW) Wawa and 1,400MW Pakil pumped storage hydro projects as potential winning bidders.

“The DOE should be commended for what is an ambitious and critical program to enable the transition to green energy, maximizing indigenous energy, bringing the country a step closer to decarbonizing the grid, and to some extent, and more importantly, enabling energy security and stabilizing the cost of generation,” Lucci said.

The Wawa project in Rizal will offer 6,000 megawatt-hours (MWh) of energy storage per day and 600MW of flexible capacity using variable-speed pump turbines. It is integrated with the Upper Wawa Dam, part of Prime Infra’s bulk water supply project.

The Pakil project in Laguna will provide 14,000MWh of daily storage and 1,400MW of capacity. Both are expected to be operational by 2030.

Prime Infra has issued Notices to Proceed (NTPs) for the construction of both projects. The Wawa NTP includes the powerhouse cavern and grid link to NGCP’s 230kV network. Its first phase is nearly complete.

The Pakil NTP formalizes the full engineering and construction contract, including the upper reservoir and 500kV grid connection.

Both projects have been granted Certificates of Energy Project of National Significance by the DOE and Green Lane endorsements from the Department of Trade and Industry and the Board of Investments.