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Thursday, July 25, 2024

Second phase of Green Energy Auction to offer 11,610 MW

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The Department of Energy plans to offer 11,610 megawatts under the Green Energy Auction Program 2 covering the period 2024 to 2026.

DOE Undersecretary Rowena Cristina Guevara said Monday the GEAP intends to provide an additional market for renewable energy through competitive electronic bidding of RE capacities.

“Compared to the first auction of GEAP-1 last year, we are more aggressive this year and we are looking for RE developers who have ready capacity by next year, to the tune of 3,590 MW and for 2025 and 2026, we need capacity commitments of 3,630 MW and 4,390 MW, respectively or a total of 11,610 MW,” Guevara said during the Philippine Power Electric Industry Forum 2023 organized by the Independent Electricity Market Operator of the Philippines.

The DOE conducted the GEAP-1 in June last year with a capacity requirement of 2,000 MW.

Guevara said DOE would issue the notice of auction for GEAP 2 next week, to be followed by the issuance of the terms of reference, GEA Reserve prices and registration period.

It is auctioning ground mounted solar totaling 2,025 MW, roof-mounted solar at 225 MW, onshore wind at 1,200 MW and biomass at 140 MW for 2024.

About 2,140 MW of ground mounted solar is being offered in 2025 followed by 260 MW of roof-mounted solar, 1,200 MW onshore wind and 30 MW of biomass.

The DOE will also auction 2,550 MW of ground-mounted solar, 300 MW of floating solar, 100 MW of roof-mounted solar, 1,350 MW of onshore wind, 60 MW of biomass and 30 MW of waste-to-energy.

“The proposed installation targets under the GEA-2 were determined based on the capacity needed by the three grids to ensure sufficient supply, the RE capacity levels to meet the target of 35-percent RE share in the power generation mix by 2030 and 50 percent by 2040, and the volume of RE certificates necessary comply with the mandates under the Renewable Portfolio Standards,” Guevara said.

She said the DOE would include in the terms of reference the list of areas and corresponding capacity of transmission that is already available.

Guevara said National Grid Corp. of the Philippines committed to accelerating transmission development to match the pace of generation development.

The energy official said GEAP-3 would be held in the fourth quarter for geothermal and impounding hydro.  The DOE, she said, is developing the specific auction policy and guidelines.

“In preparation for this, we are collaborating with development partners for technical assistance, specifically in developing the auction guidelines and policy on settlement and payment through WESM [Wholesale Electricity Spot Market],” she said.

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