Will 7.5 GW Green Energy Auction Be a Game-Changer for Philippines? By Junaid Shah/ Updated On Fri, Feb 14th, 2025 Highlights : The 7.5 GW auctioned capacity surpasses the 4,650 MW installation target for 3rd Green Energy Auction (GEA-3) Philippines target 35 percent share of renewable in its power generation mix by 2030 The Philippines’ Department of Energy (DOE) announced on Tuesday the successful completion of the 3rd Green Energy Auction (GEA-3), offering 7,500 megawatts (MW)—well above the 4,650 MW installation target. The auction aligns with President Ferdinand Marcos Jr.’s energy agenda, aimed at accelerating the shift to renewable energy (RE) and strengthening the country’s energy security and reliability. Source: Philippines Department of Energy (DOE) <a href='https://secure.meilleurmedia.com/www/delivery/ck.php?n=a85f64fd&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='https://secure.meilleurmedia.com/www/delivery/avw.php?zoneid=54&cb=INSERT_RANDOM_NUMBER_HERE&n=a85f64fd' border='0' alt='advertisement' /></a> A total of 14 projects were submitted in the auction, covering a delivery period from 2025 to 2035. These projects represent various non-FIT-eligible RE technologies, highlighting the growing confidence of investors and developers in the country’s renewable energy sector. Among the highlighted technologies is Pumped Storage Hydropower (PSH), a critical component in balancing intermittent energy from solar and wind sources. PSH facilities can store excess energy and supply power when needed, contributing to grid stability and energy security. Currently, the Philippines has only two government-owned PSH plants—Kalayaan 1 and 2 in Laguna, with a combined capacity of over 300 MW. <a href='https://secure.meilleurmedia.com/www/delivery/ck.php?n=a23dad63&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='https://secure.meilleurmedia.com/www/delivery/avw.php?zoneid=17&source=https%3A%2F%2Fwww.saurenergy.com&cb=INSERT_RANDOM_NUMBER_HERE&n=a23dad63&ct0=INSERT_ENCODED_CLICKURL_HERE' border='0' alt='Advertisment' /></a> The bids were ranked based on pricing, with the lowest-cost offers prioritized until the installation target was met. The Energy Regulatory Commission (ERC) is currently reviewing the price offers, after which the list of winning bidders will be published on the DOE website. Australia Sees Record-Breaking Clean Energy Investment Since 2018 Also Read Winning bidders will receive a Certificate of Award upon completing post-auction requirements, ensuring compliance with DOE’s standards for project execution. China’s Renewable Sector Enters New Era with Market-Driven Pricing Also Read The Green Energy Auction Programme (GEAP) remains a key strategy for fostering a competitive and transparent renewable energy market of Philippines. The DOE emphasised that this initiative promotes cost-effective RE technologies, encourages private sector investments, and contributes to the government’s 35 percent RE share target in the power generation mix by 2030. The strong outcome of the auction is significant considering that the country has only recently begun notable advancements in renewable energy deployment. According to the DOE, the Philippines added 794.34 MW of renewable energy capacity in 2024, surpassing the total of 759.82 MW installed from 2021 to 2023. Clean Energy Financing: Are We Investing Enough? Also Read Tags: 3rd Green Energy Auction (GEA-3), Energy Regulatory Commission (ERC) Philippines, Green Energy Auction Programme (GEAP), Kalayaan PSH, Philippines Department of Energy (DOE), Pumped Storage Hydropower (PSH)
