The Department of Energy said Thursday the planned Green Energy Auction (GEA-3) involving 4,475 megawatts of new renewable energy capacity, covering both non-feed in tariff (FIT)-eligible and FIT-eligible technologies will likely be pushed back to January.
“We have the GEA3, which will be done….January of next year,” Energy Undersecretary Felix William Fuentebella said at the sidelines of the 2024 Energy Investment in Pasay City.
The DOE is waiting for the release of the Price Determination Methodology for the Green Energy Auction Reserve price from the Energy Regulatory Commission before it can move to the auction proper.
The DOE earlier planned to conduct the GEA-3 late this year.
Under the previously released terns of reference for GEA-3 , the DOE said it is auctioning 100 MW for geothermal projects for delivery in 2025 to 2027, 300 MW of impounding hydro for delivery from 2028 to 2030 , 4,000 MW pumped storage hydro for 2028 to 2032 and 75 MW of run-of-river hydro for 2027 to 2029.
The supply contract for FIT-eligible renewable energy projects will be for 20 years, starting from the commercial operation date (COD).
Non-FIT-eligible projects will also have a 20- year delivery period, beginning from their respective CODs.
Rhe 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.
The registration of qualified suppliers will start three working days after the publication of the PDM and GEAR price by the ERC.
Energy Assistant Secretary Mylene Capongcol said DOE hopes to come out with the TOR for GEA-4 this month.
The TOR will govern the rules and procedures of the auction, including key elements such as auction design, bonds, instructions to bidders, bidding data, forms and templates, and post-auction requirements of the GEA.
“We will come out with the NOA (notice of auction) and TOR hopefully this December,” Capongcol said.
GEA-4 is designed to cover Integrated Renewable Energy and Energy Storage System (IRESS), a comprehensive energy solution that combines renewable energy technology with energy storage systems (ESS).
It involves the integration of renewable energy sources with energy storage technologies like batteries, flywheel or pumped storage hydropower systems.
This integration allows renewable energy plants to optimize their operations by storing excess energy generated during peak production periods and utilizing it when needed, thereby reducing the required capacity from the grid.
By combining renewable energy (RE) and energy storage, IRESS enhances the stability and reliability of the energy system, enabling a more consistent and efficient supply of power.
The DOE is also considering liquefied natural gas (LNG) technologies for the upcoming GEA-4.
The agency said these projects under the GEAP will play a crucial role in meeting the country’s growing electricity demand while ensuring that future power generation is increasingly sustainable.