DOE gets offers for RE projects
By Lenie Lectura – February 12, 2025
from Business Mirror
THE Department of Energy (DOE) received offers from 14 renewable energy (RE) projects that will deliver a total capacity of 7,500 megawatts (MW) between 2025 to 2035.
During the Green Energy Auction (GEA-3) held last February 11, the offered capacities of the 14 projects submitted in the auction exceeded the installation target of 4,650 MW.
The GEA3 covers Pumped Storage Hydropower (PSH), with a total capacity offered at 7,500MW and geothermal at 30.887MW.
Currently, the only PSH in the country are the government-owned Kalayaan 1 and 2 in Laguna with a total capacity of over 300 MW.
The aggregate capacity of accepted bids underscores the growing confidence of investors and developers in the Philippine RE sector, the DOE said.
The list of winning bidders will be posted on the DOE website once the Energy Regulatory Commission (ERC) has completed its review of the price offers.
The bids in the auction were ranked based on offers from lowest to highest bid price and stacked corresponding to the respective RE technology until the installation target is met.
The Certificate of Award will be released to the winning bidder upon complete submission of the post-auction documents under Section 9 of the Terms of Reference and affirmed in order by the GEA-Bids Evaluation and Awards Committee.
The GEA underscores the DOE’s commitment to creating a fair and competitive environment for RE development, ensuring transparency, innovation and deployment of cost-effective RE technologies across the country.
The GEA is a key initiative in the government’s strategy to expand RE capacity and achieve a 35% share of renewables in the national energy mix by 2030 and 50 percent by 2040. It provides energy developers with opportunities to secure contracts that support the growth of the country’s sustainable energy production.
In the last two years, the DOE has conducted two rounds of auction, which generated a total of 5,306 MW of RE capacities committed to deliver power in 2024 to 2026.
