The Department of Energy (DOE) has set the stage for the Green Energy Auction (GEA 5), targeting offshore wind (OSW) projects, with the bidding set to take place in the third quarter of 2025.
In a statement, the DOE said that the GEA 5 is designed to ensure a steady market for offshore wind (OSW) developers by securing long-term demand for their generation capacities.
“The launch of GEA-5 is expected to catalyze the development of offshore wind projects, solidifying the Philippines’ position as a renewable energy leader in the region. The outcomes of this auction will be vital in setting a clear path for developers and other stakeholders in the offshore wind industry,” said the DOE.
Additionally, it provides a clear timeline for stakeholders such as the National Grid Corporation of the Philippines (DENR), Philippine Ports Authority, Department of Environment and Natural Resources (DENR), Philippine Coast Guard (PCG), and Local Government Units (LGUs) to align their efforts.
It also aims to accelerate the country’s shift toward cleaner energy by broadening the energy portfolio and minimizing dependence on fossil fuels.
The Department of Energy (DOE) has awarded 92 offshore wind (OSW) contracts with a total capacity of 68,656 megawatts (MW) as of December 2024.
To pave the way for GEA-5, the DOE aims to release the Notice of Auction (NOA) and Terms of Reference (TOR), which will outline the steps and requirements for participation. In preparation, the department is carefully considering stakeholder position papers to refine the process and promote transparency and efficiency in the auction.
There are no comments
Add yours