THE Department of Energy (DoE) could offer 9,000 megawatts (MW) worth of geothermal and hydroelectric projects in the third round of the green energy auction (GEA) program this year.
“We are now working on the green energy auction program 2 and hopefully for GEA-3 for geothermal, impounding hydro and pumped storage hydro, within the year,” Energy Assistant Secretary Mylene C. Capongcol told reporters at an energy forum.
The DoE says the goal of 9,000 MW, equivalent to 9 gigawatts (GW), remains preliminary, Ms. Capongcol said.
“Unofficial (capacity) almost 9 GW, potential projects that we see to participate in but of course we will determine how much capacity will be part of the GEA-3,” Ms. Capongcol said.
“The most feasible and least cost energy storage system is still pumped storage hydro,” Ms. Capongcol said.
The GEA program aims to promote renewables as a primary source of energy through competitive selection of RE output.
Earlier, the DoE said that GEA-3 is scheduled for the fourth quarter of 2023, as the department still needs to develop a specific auction policy and guidelines for geothermal and impounding hydro.
GEA-2 is scheduled for June. It will have 11,600 MW worth of capacity on offer, with 3,600 MW allocated for installation in 2024; 3,600 MW for 2025; and 4,400 MW for 2026. — Ashley Erika O. Jose