As of June 2022, 998 renewable energy (RE) contracts of PHP270.8 billion had been awarded,…
DOE plans to hold an energy auction for 11,160 Megawatts by 2026.
According to Undersecretary Rowena Cristina Guevara on Monday, the Department of Energy (DOE) plans to use 11,160 MW of renewable energy (RE) as part of the Green Energy Auction Program (GEAP) from 2024 to 2026.
Guevarra announced the organization has proposed installation targets of 3,590 MW this year, 3,630 MW in 2025, and 4,390 MW in 2026 during the opening of the Philippine electric power industry forum, which was organized by the Independent Electricity Market Operator of the Philippines (IEMOP) at Diamond Hotel in Manila.
“We are more active this year compared to the initial GEA-1 auction last year and we are looking for RE developers who have ready capacity next year,” she said.
2,400 MW of the 3,590 MW installation goals for 2019 are for the Luzon grid, 860 MW are for the Visayas, and 330 MW are for Mindanao.
They will involve renewable energy sources, such as biomass, onshore wind, ground-mounted solar, and roof-mounted solar.
After the success of the first GEA in 2022, the DOE plans to hold the GEA-2 in June of this year with 2,000 MW of renewable energy participating in the auction.
The installation goals for Luzon, the Visayas, and Mindanao by 2025 are 2,325 MW, 940 MW, and 365 MW, respectively.
Their goals are to install 2,990 MW of renewable energy in Luzon, 905 MW in the Visayas, and 495 MW in Mindanao by 2026.
Via competitive electronic bidding of RE capacity, the DOE runs the GEAP to open up new markets for RE.
The program aims to increase foreign investment in the nation’s RE market.
While this is going on, DOE’s GEAP-3 will utilize geothermal and hydro-impounding resources.
Guevarra claimed that the organization is creating a special auction policy for geothermal and hydroelectric impounding.
By the end of 2023’s third quarter, the DOE plans to undertake GEA-3.
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