The Department of Energy (DOE) of the Philippines announced on Tuesday that it will conduct a fourth Green Energy Auction (GEA-4) in the final quarter of this year, focusing on integrated renewable energy and energy storage systems.
DOE will release an indicative timeline for GEA-4 activities in the coming months by issuing a Notice of Auction. In addition to renewables combined with energy storage systems, such as batteries, flywheels, or pumped storage hydropower systems, DOE is also considering liquefied natural gas (LNG) technologies to support the expected increase in renewable energy.
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In the past two years, DOE's first two auction rounds awarded 5,306 MW of renewable capacities, set to come online between 2024 and 2026. GEA-3 will award additional capacities in the third quarter of 2024, targeting non-FIT eligible renewable energy facilities, including geothermal, impounding and pumped-storage, as well as run-of-river hydro.
The DOE's efforts are part of a broader strategy to enhance the country's energy security, reduce costs for consumers, and support the transition to a more sustainable energy sector.
