MANILA – The Department of Energy (DOE) is eyeing 11,160 megawatts (MW) of renewable energy (RE) under the Green Energy Auction Program (GEAP) from 2024 to 2026, Undersecretary Rowena Cristina Guevara said Monday.
During the opening of the Philippine electric power industry forum organized by the Independent Electricity Market Operator of the Philippines (IEMOP) at Diamond Hotel in Manila, Guevarra said the agency has proposed installation targets of 3,590 MW this year, 3,630 MW in 2025 and 4,390 MW in 2026.
“Compared to the first auction of GEA-1 last year, we are more aggressive this year and we are looking for RE developers who have ready capacity next year,” she said.
Of the 3,590 MW installation targets for next year, 2,400 MW is for the Luzon grid, 860 for Visayas and 330 for Mindanao.
These will involve RE resources, including ground-mounted solar, rood-mounted solar, onshore wind and biomass.
The DOE targets to hold the GEA-2 in June this year following the success of the first GEA in 2022 with 2,000 MW of clean energy involved in the bidding.
By 2025, installation targets will be 2,325 MW for Luzon, 940 MW for Visayas and 365 MW for Mindanao.
In 2026, these targets will be 2,990 MW RE installation in Luzon, 905 MW in Visayas and 495 MW in Mindanao.
The DOE conducts the GEAP to provide additional market for RE through competitive electronic bidding of RE capacities.
The program is also designed to attract more investments in the RE sector in the country.
Meanwhile, DOE’s GEAP-3 will involve geothermal and impounding hydro resources.
Guevarra said the agency is developing a specific auction policy for geothermal and impounding hydropower.
The DOE aims to conduct GEA-3 by the fourth quarter of 2023. (PNA)
