Philippines to conduct auction for renewables plus storage in Q4 2024

The Department of Energy (DOE) of the Philippines on Tuesday said it will hold a fourth Green Energy Auction (GEA) round, GEA-4, in the final quarter of this year, which will be focused on integrated renewable energy and energy storage systems.

DOE will provide an indicative timeline for GEA-4 activities in the coming months by issuing a Notice of Auction. Besides renewables combined with energy storage, which can be batteries, flywheel or pumped storage hydropower systems, DOE is also considering liquefied natural gas (LNG) technologies for the upcoming GEA-4 to address the expected increase in renewables.

In the past two years, DOE’s first two auction rounds awarded 5,306 MW of renewable capacities, which are due to come online in 2024 to 2026. GEA-3 will award more capacities in the third quarter of 2024. This third round is aimed at non-FIT eligible renewable energy facilities, such as geothermal, impounding and pumped-storage, as well as run-of-river hydro.

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