MANILA – The Department of Energy (DOE) has unveiled plans for the third round of its Green Energy Auction (GEA-3) slated for this year, which will notably focus on renewable energy projects that do not qualify for the feed-in tariff (FIT) scheme. This initiative marks a significant step towards increasing the country's renewable energy (RE) portfolio and enhancing energy security and reliability.
According to Philippines News Agency, the upcoming GEA-3 will feature an estimated 4,199 megawatts (MW) of renewable energy capacity from technologies not eligible for FIT, including 3,120 MW from pumped-storage hydro, 699 MW from impounding hydro, and 380 MW from geothermal sources. Additionally, the auction will include run-of-river (ROR) hydro projects, which, despite being FIT-eligible, will contribute an estimated capacity of 200 MW.
The DOE emphasized that the GEA-3 aims to bolster the utilization of the Philippines' renewable energy resources, aligning with national goals for energy security and sustainability. The auction's schedule includes several key dates: the notice of auction, terms of reference, and the release of Price Determination Methodology for non-FIT eligible RE technologies, along with the Green Energy Auction Reserve (GEAR) price for ROR hydro, will be published on April 29. Registration for qualified suppliers opens on May 13, with the list of qualified suppliers to be posted on July 4. The auction itself is set for August 21, with the notice of award for FIT-eligible RE technology announced on September 18 and for non-FIT RE technologies on December 10.
The DOE has also outlined delivery commencement periods (DCP) for the various technologies: impounding and pumped-storage hydro projects are expected to commence between 2028 and 2030, geothermal projects between 2024 and 2030, and ROR hydro projects from 2026 to 2028.
Through GEA-3, the DOE aims to facilitate a transparent and competitive selection process for renewable energy facilities, furthering the nation's journey towards a more sustainable and secure energy future.