MANILA — The Department of Energy (DOE) is preparing to conduct the fourth auction round under the Green Energy Auction Program (GEAP), or GEA-4, as part of its ongoing efforts to accelerate the development and use of the country’s renewable energy resources.
For the first time, GEA-4 will include the Integrated Renewable Energy and Energy Storage System (IRESS). This round will focus on solar power plants integrated with Battery Energy Storage Systems (BESS).
The DOE is set to release the GEA-4 Terms of Reference (TOR) within February. The TOR will outline the specific provisions and procedures for the auction process, including technical, financial, and commercial aspects, as well as insights and lessons learned from previous rounds.
The TOR will include key GEA instruments, such as auction design, bonds, instructions to bidders, bidding data, forms, templates, and post-auction requirements. To ensure active participation, the DOE will hold a dialogue on the draft TOR to gather feedback from relevant stakeholders.
The draft Notice of Auction, TOR, and the schedule for the stakeholder dialogue will be published on the DOE website.
The GEAP is a key part of the government’s strategy to expand renewable energy capacity and achieve a 35% share of renewables in the national energy mix by 2030. It provides energy developers with opportunities to secure contracts that support the growth of the country’s sustainable energy production.
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