TAGUIG CITY –The Department of Energy (DOE) is pleased to announce the successful conduct of the 3rd Green Energy Auction (GEA-3) in the Philippines, with an offered capacity of 7500 megawatts, exceeding the installation target of 4,650. This marks a significant step towards realizing the energy agenda of President Ferdinand Marcos, Jr. to accelerate the country’s transition to renewable energy (RE) and attain energy security and reliability.
This auction round demonstrated an overwhelming response from industry stakeholders. A total of 14 projects, with delivery period of 2027 to 2035, were submitted in the auction with the following offered capacities for non-FIT-eligible RE Technologies. Pumped Storage Hydropower (PSH) has the capability to perform as an energy storage facility that can complement generation from variable renewable energy (VRE) sources such as solar and wind but at the same time can inject power into the grid for supply augmentation and balance the intermittency of VREs in the power system towards achieving energy security. Currently, the only PSH in the country are state-owned Kalayaan 1 and 2 in Laguna with a total capacity of over 300MW.
The aggregate capacity of accepted bids underscores the growing confidence of investors and developers in the Philippine RE sector. 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 mentioned under Section 9 of the applicable Terms of Reference and affirmed in order by the GEA-Bids Evaluation and Awards Committee.
The GEA-3 highlights underscore 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 DOE highlights that this auction is part of a broader strategy to encourage market-driven investments and efforts to diversify the country’s energy mix to achieve the target of 35% RE share in the power generation mix by 2030.
