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Fierce competition anticipated as 12 developers vie for GEA-3 contracts

Business

Fierce competition anticipated as 12 developers vie for GEA-3 contracts

By Gabriell Christel Galang

The Department of Energy (DOE) has announced the bidders for the third Green Energy Auction (GEA-3).

In a statement, the DOE has identified 12 renewable energy (RE) developers slated for the bidding which would begin in February.

The GEA-3 involves an auction for 4,475 megawatts (MW) worth of RE capacity, which includes non-eligible to feed-in-tariff (FIT) program.

Additionally, the DOE would auction 4,000 MW pumped storage, 300 MW of impounding hydropower, 100 MW geothermal capacity, and 75 MW run-of-river hydro.

The target delivery for these technologies vary somewhere between 2025 to 2032.

The DOE identified numerous players for the upcoming GEA-3, such as three geothermal facilities from the Maibarara Geothermal, Inc. and two geothermal units from the Energy Development Corporation.

Bac-Man Geothermal, Inc. will also join with two facilities included in the bidding.

Four impounding hydropower projects are also set for the auction, as the DOE named Pan Pacific Renewable Power Phils. Corp., Pulangi Hydro Power Corporation, and United Hydro Power Builders Corporation.

Lastly, there were 10 identified pumped-storage hydro projects slated for GEA-3, which includes Ahunan Power, Inc., First Gen Hydro Power Corporation, Olympia Violago Water and Power, Pan Pacific Renewable Power Phils. Corp., San Roque Hydropower Inc., COHECO Badeo Corporation, and Repower Energy Development Corporation.

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Department of Energy

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