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DOE Prepares for 4,399 MW Auction in August to Expand Renewable Energy

Expanding renewable energy: DOE readies 4,399 MW auction in August

The Department of Energy (DOE) is gearing up to auction 4,399 megawatts (MW) of capacity in August as part of its efforts to promote renewable energy (RE) utilization and ensure energy security and reliability. The auction, known as the Third Round of the Green Energy Auction (GEA-3), is scheduled for August 21 and will focus on Non-Feed-In-Tariff (Non-FIT) Eligible RE Technologies.

The Non-FIT RE Technologies that will be included in the auction are geothermal, impounding hydro, pumped-storage hydro, and run-of-river (ROR) Hydro. The estimated capacities for these technologies are 699 MW from impounding hydro, 3,120 MW from pumped-storage hydro, 380 MW from geothermal, and 200 MW from ROR Hydro.

The delivery period for impounding hydro and pumped-storage hydro is set for 2028 to 2030, while for geothermal, it is from 2024 to 2030. The auction for ROR Hydro is expected to take place between 2026 and 2028.

To ensure transparency and fair competition, the DOE will publish the notice of auction on April 29 and release the list of qualified suppliers on July 4. The awarding for FIT-Eligible RE Technology (ROR Hydro) is scheduled for September 18, while the notice of award for non-FIT RE eligible technologies (geothermal, impounding hydro, and pumped-storage hydro) will be posted on December 10, 2024.

With this auction, the DOE aims to accelerate the growth of renewable energy in the country and attract investments in clean and sustainable power sources. It is a significant step towards achieving the Philippines’ target of sourcing 35% of its energy from renewables by 2030.

The development of renewable energy plays a vital role in mitigating climate change, reducing greenhouse gas emissions, and ensuring a sustainable future. By harnessing the power of nature, the Philippines can secure its energy supply, create jobs, and contribute to a greener and more resilient economy.

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