The guidelines for the Department of Energy’s (DOE) Green Energy Auction Program (GEAP) will be issued next month, though the actual bidding for renewable energy (RE) capacity installations will probably begin in the second half of the year, officials said.
Based on a Manila Bulletin report, Energy Asec. Redentor Delola said that Sec. Alfonso Cusi has yet to approve the auction’s rules, particularly the bidding’s definitive schedule and the volume to be provided in the auction process.
Delola further said the volume depends on the proposed hike by the National Renewable Energy Board (NREB) of the Renewable Portfolio Standard (RPS) requirement.
Initially, both the DOE and the NREB came up with an initial simulation of 2,000 megawatts, but they directly stipulated that the final numbers may still change.
Most RE players are expecting the auction to happen this June, but timelines are likely to be pushed back, as the DOE has yet to render approvals.
Many investors have been eager to invest in the Philippines’ RE sector since last year or even earlier. However, they have been waiting for the DOE’s clear and definitive policy requirements on the targeted auction of RE capacity for the RPS since this will serve as the anchor for the next round of green energy installations in the country.
They have also been expressing to policymakers that the Philippines is already losing out against competitors, including neighboring countries like Vietnam, Thailand, and Cambodia.
