Philippines Green Energy Auction Program (GEAP) Update - November 2024

Following our previous GEAP Primer, we are excited to release our latest update on the Philippine Green Energy Auction Program (GEAP) as the country advances its renewable energy goals.

Key Development: The Notice of Auction and Terms of Reference (TOR) for GEA3 were officially released by the Department of Energy Philippines (DOE) and the Energy Regulatory Commission (ERC) Philippines, with critical details to guide the upcoming auction. This development marks a step forward in achieving the country’s renewable energy targets.

This update highlights:

• ‍Expanded Technology Options: Including Run-of-River Hydro, Geothermal, Impounding Hydro, and Pumped-Storage Hydro.‍
• Updated GEAR Pricing: Featuring the latest price ceiling for ROR Hydro set by the ERC to guide competitive bidding.‍
• New Price Determination Methodology (PDM): Structured to ensure fair and sustainable pricing for non-FIT-eligible technologies through a two-step evaluation and DCF-based pricing model.‍
• Reduced Performance Bond Requirements: Lower obligations for bidders, making participation more accessible while maintaining project accountability.

As these updates set the stage for GEA3, we are happy to discuss this development with anyone looking to participate in the auctions, enter, or consolidate their presence in the renewable energy sector in the Philippines.

Let’s work together to achieve the country’s renewable energy targets of 35% by 2030 and 50% by 2040.

Read more at: Philippines Green Energy Auction Program (GEAP) Update - November 2024