The Department of Energy (DOE) has officially released the Notice of Award (NOA) for the third round of the Green Energy Auction (GEA-3), unlocking over 6,000 megawatts (MW) in renewable energy capacity across the Philippines. This marks a huge step in the government’s efforts to accelerate clean energy development while also improving energy security nationwide.

The NOA lists the potential winning bidders, their offered capacities, and the energy rates endorsed by the Energy Regulatory Commission (ERC). These projects cover a wide range of renewable energy technologies, including impounding hydropower, pumped-storage hydropower, and geothermal energy.

Among the awarded projects, impounding hydropower received an installation target of 300 MW for delivery between 2028 and 2030. This segment was covered by two successful bids from Pan Pacific Renewable Power Phils. Corp.

The largest share of capacity went to pumped-storage hydropower (PSH), with a combined installation target of 4,250 MW and delivery dates extending from 2028 to 2035. Seven bids were considered from developers such as Coheco Badeo Corporation, Olympia Violago Water and Power, Inc., Ahunan Power Inc., Pan Pacific Renewable Power Phils. Corp., and San Roque Hydropower, Inc., amounting to a total offered capacity of 6,350 MW.

For geothermal energy, the DOE targeted 100 MW of new capacity for 2025 to 2027. Three bids, totaling 30.887 MW, were submitted by Energy Development Corporation and Bac-Man Geothermal, Inc.

These awards followed a comprehensive multi-stage evaluation. On February 11, 2025, qualified bidders submitted their proposals via the DOE’s electronic bidding platform. The Green Energy Auction – Bids Evaluation and Awards Committee (GEA-BEAC) then conducted both legal and technical assessments. Price offers endorsed to the ERC on February 20 underwent financial review, with the ERC submitting its findings to the DOE by April 15. Finally, bidder eligibility was determined by May following joint discussions between the DOE and the ERC.

The NOA also outlines several key conditions: The approved projects will follow a non-FIT Green Energy Tariff (GET) scheme as per existing DOE guidelines. For pumped-storage hydropower, only the actual offered capacity, which excludes any 50% energy surplus, will be eligible for the approved rate, due to pricing limitations under ERC rules.

In addition, the DOE has officially canceled a previous advisory provision that would have limited post-20-year pricing to incremental cost levels. This adjustment aligns the auction rules with ERC’s current pricing determination mechanisms.

All potential winning bidders are required to confirm acceptance of the award and submit post-auction documents, this includes things such as an affidavit of undertaking and a performance bond, within 15 calendar days of the NOA’s publication. Failure to comply will result in the forfeiture of their bid bond.

The successful conclusion of GEA-3 highlights the government’s continuous commitment to expanding renewable energy capacity, reducing dependence on fossil fuels, and meeting the country’s long-term clean energy goals.

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