The Department of Energy (DOE) said Thursday it is set to conduct the fourth auction round of the Green Energy Auction Program (GEAP) as part of its efforts to accelerate the development and utilization of renewable energy resources.
The DOE said in a statement GEA-4 would include the Integrated Renewable Energy and Energy Storage System (IRESS) but would only cover solar power plants integrated with Battery Energy Storage Systems (BESS).
The auction would also include wind power projects, but would exclude liquefied natural gas as there are already enough LNG facilities being planned.
The DOE said it would release the GEA-4 terms of reference (TOR) within the month. The TOR will outline specific provisions and procedures on the auction process, covering technical, financial and commercial aspects.
It will also incorporate insights and lessons learned from previous auction rounds.
Each auction round’s TOR includes key GEA instruments such as the auction design, bonds, instructions to bidders, bidding data, forms and templates and post-auction requirements.
The agency said it would hold a dialogue on the draft GEA-4 TOR to gather feedback from relevant parties to ensure stakeholder participation.
The draft notice of auction, TOR and the schedule for the stakeholder dialogue will be published on the DOE website. The notice of auction is expected to be released on Feb. 13, 2025.
Key industry stakeholders attended the focus group discussion organized by the Energy Regulatory Commission (ERC) to assess parameters and cost assumptions for renewable energy (RE) technologies in preparation for GEA-4.
The FGD brought together key industry stakeholders to discuss concerns ahead of the auction.
Participants included representatives from Developers of Renewable Energy for AdvanceMent Inc. (DREAM), Philippine Solar and Storage Energy Alliance (PSSEA), Confederation of Solar Developers of the Philippines Inc. (CSDP), Philhydro Association Inc. (Philhydro), Wind Energy Developers Association of the Philippines (WEDAP), Biomass Renewable Energy Association (BREA), and Huawei Digital Power Philippines.
The ERC provided each organization with focused presentations with data-driven insights, justifications, and technical references to support the determination of Green Energy Auction Reserve (GEAR) Prices.
The FGD served to validate, refine, and enhance data accuracy in setting GEAR Prices for various technologies. Through active collaboration, the ERC reaffirmed its commitment to advancing sustainable, secure, and affordable energy solutions in line with the country’s renewable energy development goals.
The GEAP is a key initiative in the government’s strategy to expand renewable energy capacity and achieve a 35 percent share of renewables in the national energy mix by 2030. It provides energy developers with opportunities to secure contracts that support the growth of the country’s sustainable energy production.
