SMC, Citicore sweep DOE’s 4th green auction

Business tycoons Ramon Ang and Edgar Saavedra further tightened their grip on the country’s renewable energy sector as their firms emerged as the biggest winners in the Department of Energy’s (DoE) fourth Green Energy Auction (GEA-4) held earlier this week.

SMC Global Light and Power Corp., the power unit of San Miguel Corp., topped the auction with over 2,200 megawatts (MW) in awards.

Its haul includes the 540 MW and 500 MW Angat floating solar projects, the 630 MW Cauayan solar project, and the Malita solar farms in Mindanao.

Citicore Renewable Energy Corp. (CREC), controlled by Megawide co-founder Edgar Saavedra, on the other hand, secured more than 900 MW across multiple projects, including the Bolbok, Pagbilao, Silay and Isabela solar farms. CREC and its subsidiaries have been aggressively expanding ahead of a planned public listing.

Foreign-backed developers also made significant gains in wind energy, as Envision Energy Philippines, a unit of China’s Envision Group, secured roughly 760 MW in Luzon and the Visayas, while Econergy Renewable Power Philippines bagged 349.9 MW.

Nortesol/Newasia led floating solar with over 700 MW awarded across Laguna and nearby provinces through multiple affiliated firms.

Other firms that emerged as winners at the said auction include Quezon Wind Energy Corp. (208 MW), San Nicolas Wind Corp. (200 MW), Ilosong Wind Corp. (200 MW), Northern Sun Power (190 MW), and Freya Renewables (150 MW).

While GEA-4 marked a strong showing for private developers, it fell short of the DoE’s target. The auction secured 9,423.622 MW, or 88 percent of the 10,653 MW goal.