Citicore Renewable Energy Corp. (CREC) on Wednesday announced plans to participate in the second round of bidding for microgrid service areas (MGSP-CSP 2) made available by the government.
The CREC, which participated in the original bidding exercise but did not submit a bid, found the terms of the second round as more attractive than the first round for investors.
According to Oliver Tan, CREC president and chief executive officer, the service areas in the first round were noncontiguous and therefore unattractive for bidders.
The upcoming bidding exercise, Tan told reporters, “looks promising so let’s see” what happens.
Tan declined to detail the second round attractions, saying only the bidding should prove competitive.
Earlier this week, the Department of Energy (DOE) said it will conduct the second round of the competitive selection process (CSP) for the microgrid services still at stake for interested investors.
Microgrids relate to a limited network of electricity users who are not connected to the national grid.
The deadline for the submission of bids under MGSP-CSP 2 involving the electrification of 75 unserved and underserved areas is on the fourth week of September.
These areas cover 12,212 households previously offered at the MGSP-CSP in November last year, the DOE said.
