The Department of Energy (DOE) is set to announce the winning bids for the third round of its Green Energy Auction (GEA-3) by next week, a move poised to catalyze significant growth in the country’s renewable energy market.
Energy undersecretary Rowena Guevara confirmed Tuesday that the results are expected to be released by Monday, pending the signature of Energy Secretary Raphael Lotilla. “We’re just waiting for the Secretary to sign,” Guevara told reporters.
This develops as proponents vie for long-term fixed-rate supply contracts under the competitive auction scheme. GEA-3 attracted a total of 7,530.887 megawatts (MW) of proposed capacity, far exceeding the DOE’s 4,650 MW installation target—a strong indicator of investor appetite in renewable energy infrastructure.
Among the key technologies covered are impounding hydro, pumped-storage hydro (PSH), and geothermal projects, with delivery timelines stretching from 2025 to 2035. Notably, PSH projects in Luzon drew 6,700 MW in offers against a 4,000 MW target, underscoring heightened interest in energy storage solutions.
Winning bids will be determined by lowest price offers within ERC-set reserve prices. Developers must complete post-auction documentation before receiving certificates of award.
The DOE has withheld naming the developers while the evaluation remains ongoing. Once finalized, the auction’s outcome is expected to strengthen the Philippines’ transition to a more sustainable energy mix and attract further private sector participation in clean power generation.
