The Department of Energy (DoE) said it plans to commission renewable energy (RE) worth 4,475 megawatts (MW) in the third round of the green energy auction (GEA-3).
The DoE has issued an auction notice and terms of reference for GEA-3, inviting qualified energy developers to participate in bidding aimed at facilitating energy transition.
“By unlocking more capacity for renewable energy, GEA-3 provides a clear path to meeting our electricity needs in an environmentally friendly way,” Energy Secretary Raphael PM Lotilla said in a statement on Thursday.
The terms of reference state that technologies not eligible for the feed-in tariff (FIT) make up the bulk of the supply, including 4,000 MW of pumped storage hydropower capacity, to be delivered between 2028 and 2030.
The DoE will also provide 300 MW of hydropower capacity for delivery in 2028-2030, and 100 MW of geothermal power for delivery in 2025-2027.
Renewable energy technology projects eligible for the FIT include 75 MW of run-of-river hydro to be launched between 2027 and 2029.
The GEA program aims to promote renewable energy as the main energy source, subject to competitive selection. The government hopes to increase the share of renewable energy in the electricity mix to 35% by 2030 and 50% by 2040.
“These projects will play an important role in meeting the country’s growing electricity demand while ensuring that electricity generation in the future is increasingly sustainable,” said the DoE.
The GEA was first scheduled for 2022 and resulted in a renewables award worth 1,996.93 MW. GEA-2 was held in 2023, awarded 3,440.756 MW.
The Energy Regulatory Commission (ERC) will set parameters for each type of renewable energy plant included in the GEA program through the price determination method (PDM).
ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said the commission hopes to release the PDM early next month. – Sheldeen Joy Talavera
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