To strengthen the country’s implementation of renewable energy (RE) and to secure reliable power, the Department of Energy (DOE) is initiating the third round of the Green Energy Auction (GEA-3) this year.
The tertiary round would now attend to Non-Feed-In-Tariff (Non-Fit) Eligible RE Technologies, such as Pumped-Storage Hydro, Impounding Hydro, and Geothermal.
Additionally, the GEA-3 would also include a run of river (ROR) Hydro, which is a FIT-Eligible RE technology.
“Through the administration of the GEA-3, the DOE is not only paving the way for a more sustainable future but is also ensuring a transparent and competitive selection of RE facilities,” said the agency.
The inclusion is under Department Circular No. DC2023-10-0029, which gave clear auction directives for these Non-FIT RE technologies.
The capacities allocated for Non-FIT Eligible Renewable Energy (RE) Technologies are outlined as follows: 699 MW from Impounding Hydro, 3,120 MW from Pumped-Storage Hydro, and 380 MW from Geothermal sources.
For both Impounding Hydro and Pumped-Storage Hydro, the designated Delivery Commencement Period (DCP) spans from 2028 to 2030. Meanwhile, geothermal projects are slated for a DCP window starting from 2024 and extending through 2030.
In a separate development, an approximate 200 MW of Renewable Energy capacity derived from Run-of-River (ROR) Hydro is anticipated to undergo auction, with the targeted Delivery Commencement Period set between 2026 and 2028.
Meanwhile, the key documents, including the Notice of Auction, Terms of Reference, Cost Evaluation, and the Green Energy Auction Reserve (GEAR) Price, are strategically set to be released on April 29.
Additionally, the DOE released an outlined schedule for the auction process, with the registration of qualified suppliers starting on May 13 and the ensuing publication of the list on July 4, setting up the structure for the main auction event scheduled for August 21.
The process will be concluded with the issuance of the Notice of Award for FIT Eligible RE Technology on September 18 and for Non-FIT RE Eligible Technologies on December 10.