SP New Energy Corp. (SPNEC) has asked the Department of Energy (DOE) to terminate the notice of award extended the company’s 280-megawatt Sta. Rosa solar project in Nueva Ecija under the first Green Energy Auction round or GEA-1.
Emmanuel Rubio, SPNEC president and chief executive officer, said the project is beset by transmission issues beyond the company’s ability to manage or control.
“Our request remains subject of course to DOE approval and well within the parameters established in GEA-1 guidelines. Having said that, SPNEC remains a committed partner of the government to increase the share of renewable energy in the overall energy mix of the country, as we continue to assess and develop opportunities while we progress with the execution of our existing projects,” Rubio said in a message to reporters.
The SPNEC Sta. Rosa solar project was among the first to enjoy the benefits of the GEA first conducted in June 2022 that attracted 1,996.93 MW worth of renewable energy proposals. These consisted of 1,490.38 MW in ground-mounted solar; 374 MW of onshore wind, 99.15 MW of hydro, and 3.4 MW of biomass.
The GEA encourages greater use of renewable energy by industrial and commercial end users as well as by households. At the same time, renewable energy providers are allowed incentivized rates of return with the approval of the Energy Regulatory Commission ERC as sweetener.
Apart from the Sta. Rosa solar, SPNEC is also developing a 3,500-MW solar and another 4,000-MWh battery energy storage system in Nueva Ecija and Bulacan costing P190 billion touted as the world’s largest project.
