QUEZON CITY, (PIA) — The Department of Energy (DOE) has officially released the Notice of Auction (NOA) and Terms of Reference (TOR) for the third round of the Green Energy Auction (GEA-3), inviting qualified energy developers to participate in a key initiative aimed at accelerating the country’s transition to renewable energy.
The GEA-3 aims to add a total of 4,475 megawatts (MW) of new renewable energy capacity, encompassing both Feed-in Tariff (FIT)-eligible and Non-FIT-eligible technologies.
These projects are critical for addressing the Philippines’ growing electricity demands while promoting sustainable power generation for the future.
“We are pleased to release the Notice of Auction and Terms of Reference for the GEA-3, a pivotal mechanism in accelerating our nation’s energy transition,” said Energy Secretary Raphael P.M. Lotilla.
“By promoting competition and transparency, we are ensuring that the Philippines remains at the forefront of the global move towards a cleaner and more sustainable energy future,” he added.
The GEA-3 is part of the DOE’s broader strategy to foster a sustainable energy landscape, ensuring that the selection of renewable energy facilities is both clear and competitive.
This approach is essential for meeting the energy needs of the country while supporting environmental goals.
Under the TOR, specific details regarding the auction capacity requirements in megawatts (MW) and delivery dates for Non-FIT-eligible resources will be outlined, further guiding developers in their participation.
The initiative reflects the Philippines’ commitment to increasing its renewable energy portfolio and reducing reliance on fossil fuels, aligning with global sustainability efforts.
Under the TOR, the auction capacity requirement in megawatt (MW) and delivery date for the Non-FIT-eligible resources are as follows:
For FIT-eligible renewable energy technology projects, the installation target and delivery date is shown below:
“By unlocking more capacity for renewable energy, GEA-3 provides a clear pathway to meet our electricity demands and in an environmentally sustainable way,” said Secretary Lotilla, underscoring the dual impact of the program on both energy security and environmental sustainability.
The supply contract for FIT-eligible renewable energy projects will be for 20 years, starting from the commercial operation date (COD). Similarly, Non-FIT-eligible projects will also have a 20-year delivery period, beginning from their respective CODs.
Qualified suppliers wishing to participate in GEA-3 must register with the DOE by submitting the necessary documentation as outlined in the TOR. The GEA Bids Evaluation and Awards Committee will review these applications, and a list of qualified bidders will be published on the DOE’s official website prior to the pre-bid conference.
Qualified suppliers can begin registering three working days after the Energy Regulatory Commission publishes the Price Determination Methodology and Green Energy Auction Reserve Price. The actual auction will take place 26 working days after the ERC publishes the Price Determination Methodology.
The GEA-3 is set to encourage more investments in renewable energy, driving growth in this field and solidifying its role in the nation’s energy future. The Terms of Reference (TOR) will detail the auction’s rules and procedures, including auction design, bonds, instructions for bidders, bidding data, forms, and post-auction requirements. This TOR also complements the Green Energy Auction Program (GEAP) framework, ensuring a clear and consistent process. (JLN/PIA-NCR)
