The Department of Energy plans to conduct a third round of Green Energy Auction Program for geothermal, run-of-river hydro and pumped storage hydro in November 2023.
DOE Undersecretary Rowena Guevara said while the agency had not yet set the targets, they were already talking with industry players on the auction capacity per technology.
“We have not finished talking with the private sector on what are ready [projects] because we do not want to put in targets that cannot be met,” Guevara said.
She said the DOE would submit data related to the technologies for auction under GEAP 3 to the Energy Regulatory Commission.
Guevara said the DOE met with the industry players last week to discuss the “pain points” of GEAP 2.
GEAP 2 generated a total of 3,440.756 MW of renewable energy capacities out of 11,600 MW that was auctioned for installation for the years 2024, 2025 and 2026.
Guevara said the industry identified the GEAR price, availability of transmission lines and short preparation time for the low turnout of GEAP 2.