The Department of Energy plans to auction 11,610 megawatts of renewable energy capacity under the Green Energy Auction Program 2 (GEAP2).
GEAP 2 aims to provide an additional market for renewable energy through electronic bidding of renewable energy capacities.
DOE Undersecretary Rowena Cristina L. Guevara announced during a forum that they are seeking RE developers with a ready capacity of 3,590 MW for next year and capacity commitments of 3,630 MW and 4,390 MW for 2025 and 2026, respectively, for a total of 11,610 MW.
The notice of auction is expected to be issued this week.
The proposed installation targets for GEA-2 were determined based on ensuring sufficient supply, meeting the RE capacity levels of 35 percent RE share in the power generation mix by 2030 and 50 percent by 2040.
GEA 3 will also be launched in the fourth quarter, but only for geothermal and impounding hydro.
Last year, DOE auctioned only 2,000 MW under GEAP 1.
