The Philippine’s Department of Energy (DOE) plans to offer 4,399 MW of renewable capacity in the country’s third round of the Green Energy Auction (GEA-3). The DOE has issued a notice of auction for 699 MW from impounding hydro, 3,120 MW from pumped-storage hydro, 200 MW of run-of-river (ROR) hydro and 380 MW from geothermal.
The auction, which focuses on Non-Feed-In-Tariff (Non-FIT) Eligible renewable technologies, will take place on 21 August 2024. The start of registration of qualified bidders is set for 13 May 2024, and the DOE will release the list of qualified bidders on 4 July 2024.
The target capacities for run-of-river projects will have to be installed between 2026 and 2028. Both impounding hydro and pumped-storage hydro projects will have to be installed between 2028 and 2030, while for geothermal the target delivery period is set between 2024 and 2030.
In July 2023, the DOE selected a total of 3.6 GW of renewable energy projects to be built across the Philippines under its GEA-2, awarding 2.1 GW of solar PV and 1.5 GW of onshore wind. The tender was largely undersubscribed, as the DOE auctioned only 30% of what it offered (11.6 GW capacity, with 3.6 GW to be installed in 2024, 3.6 GW in 2025 and 4.4 GW in 2026).
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