12 developers compete for green energy auction contracts

The Department of Energy (DOE) has named 12 renewable energy (RE) developers set to compete in the third Green Energy Auction (GEA-3), which begins in February.

The auction will offer 4,475 megawatts (MW) of RE capacity, including non-eligible feed-in-tariff (FIT) programs. It also includes 4,000 MW of pumped storage, 300 MW of impounding hydropower, 100 MW of geothermal capacity, and 75 MW of run-of-river hydro, with target delivery dates ranging from 2025 to 2032.

Among the bidders, Maibarara Geothermal, Inc. has three geothermal facilities, while Energy Development Corporation and Bac-Man Geothermal, Inc. will each enter two units.

For impounding hydropower projects, Pan Pacific Renewable Power Phils. Corp., Pulangi Hydro Power Corporation, and United Hydro Power Builders Corporation will participate.

The DOE also identified 10 pumped-storage hydro projects from Ahunan Power, Inc., First Gen Hydro Power Corporation, Olympia Violago Water and Power, Pan Pacific Renewable Power Phils. Corp., San Roque Hydropower Inc., COHECO Badeo Corporation, and Repower Energy Development Corporation.

GEA-3 is part of the government’s strategy to accelerate the country’s renewable energy transition and attract private sector investment in sustainable power solutions.