The Department of Energy (DOE) Is set to release the terms of reference (TOR) for the 4th round of the Green Energy Auction Program (GEA-4) as part of its drive to accelerate the Philippines’ renewable energy development.
GEA-4 will include the Integrated Renewable Energy and Energy Storage System (IRESS), focusing on solar power plants integrated with Battery Energy Storage Systems (BESS). IRESS is an advanced energy solution that merges renewable energy technologies with various energy storage systems.
This marks a significant shift in the country’s energy landscape, with a stronger emphasis on energy storage solutions to support renewable energy reliability.
Liquefied Natural Gas (LNG), however, will not be included in the auction.
The TOR will provide detailed guidelines for the auction process, covering technical, financial, and commercial aspects. Additionally, it will reflect valuable insights and lessons learned from previous auction rounds.
Included in the TOR will be essential documents such as auction design, bonds, bidding instructions, templates, and post-auction requirements. These provisions are designed to streamline the auction process and ensure transparency and fairness for all stakeholders involved.
To facilitate input and ensure broad participation, the DOE will hold a dialogue session on the draft TOR. This will allow relevant parties to provide feedback before the final TOR is published. The draft Notice of Auction, TOR, and stakeholder dialogue schedule will be made available on the DOE’s official website.
The Green Energy Auction Program is central to the Philippine government’s goal of achieving a 35% renewable energy share in the national energy mix by 2030. The program offers energy developers the opportunity to secure contracts that contribute to the nation’s sustainable energy growth.
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