THE Department of Energy (DOE) on Thursday, November 14, issued the notice of auction and terms of reference for the third round of the Green Energy Auction (GEA-3) within the year.
The DOE urged energy developers to participate in the initiative, which aims to accelerate the country’s transition to renewable energy.
The GEA-3 will target 4,475 megawatts (MW) of new renewable energy capacity, covering both non-feed-in-tariff (non-FIT) eligible and FIT-eligible technologies.
Under the TOR, the auction capacity requirements for non-FIT eligible resources are 100 MW for geothermal; 300 MW for impounding hydropower; and 4,000 MW for pumped-storage hydropower.
Delivery date for the geothermal will be 2025 to 2027; 2028 to 2030 for the impounding hydropower; and 2028 to 2032 for the pumped storage.
For FIT-eligible renewable energy technology projects, the installation target is 75 MW for run-of-river hydro and should be delivered by 2027 to 2029.
The DOE said these projects would play a crucial role in meeting the country’s growing electricity demand while ensuring that future power generation is sustainable.
“We are pleased to release the notice of auction and terms of reference of the GEA-3, a pivotal mechanism in accelerating our nation’s energy transition. By promoting competition and transparency, we are ensuring that the Philippines remains at the forefront of the global move towards a cleaner and more sustainable energy future,” Energy Secretary Raphael Lotilla said.
“By unlocking more capacity for renewable energy, GEA-3 provides a clear pathway to meet our electricity demands and in an environmentally sustainable way.”
The DOE said the supply contract for FIT-eligible renewable energy projects would be for 20 years starting from the commercial operation date (COD), while non-FIT-eligible projects would also have a 20-year delivery period beginning from their respective CODs.
Qualified suppliers wishing to participate in the auction must register with the DOE by submitting the necessary documentation as outlined in the TOR.
The DOE said the GEA Bids Evaluation and Awards Committee would review the applications and a list of qualified bidders would be published on the DOE’s official website before the pre-bid conference.
The registration of qualified suppliers will start three working days after the publication of the Price Determination Methodology (PDM) and Green Energy Auction Reserve (GEAR) Price by the Energy Regulatory Commission. (PNA)
