DOE set to launch third green energy auction in November

By Alena Mae S. Flores – September 4, 2023, 8:45 pm
from manilastandard.net

The Department of Energy is preparing to launch the Green Energy Auction Program 3 in November that will focus on geothermal, run-of-river hydro and pumped storage hydro projects.

“The capacities for GEAP 3 will be announced when the notice of auction is issued,” DOE Undersecretary Rowena Guevara said.

The Energy Regulatory Commission is expected to release the green energy reserve prices which serve as the ceiling price for GEAP, simultaneous with the issuance of the notice to auction.

Guevara said the DOE was also looking at auctioning the unsubscribed 8,000 MW of renewable capacity from GEAP 2 next year.

GEAP 2 generated a total of 3,440.756 MW of RE capacities out of 11,600 MW that was auctioned for installation for the years 2024, 2025 and 2026.

The DOE recently released the list of winning bidders for GEAP 2 where 105 RE projects were awarded to developers.

More than half of the committed winning capacity is from ground-mounted solar with a total of 1,878.982 MW, while 9.390 MW, 90 MW and 1,462.384 MW are from rooftop solar, floating solar and onshore wind, respectively.

Guevara earlier said the industry identified the GEAR price, availability of transmission lines and short preparation time as factors for the low turnout of GEAP 2.

She said they were also coordinating with the local government units to enroll through the Energy Virtual One-Stop Shop System to ensure transparency and fast-track the permitting process.

The GEAP is DOE’s initiative to attract current and incoming power players to invest in RE generation which will drive the agency’s goal of a 35-percent RE capacity mix by 2035 and 50-percent RE by 2040.