Philippines plans 11.6-gigawatt renewables auction for 2024-26

Manila Standard:

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.

[Alena Mae Flores]

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