The Department of Energy (DOE) has shortlisted 13 power companies for the third Green Energy Auction (GEA-3), reflecting a growing commitment to renewable energy in the Philippines.
The DOE announced on January 28 that these firms are eligible to participate in the upcoming auction, which will offer contracts for hydropower and geothermal projects totaling 4,475 megawatts (MW).
Qualified bidders include Energy Development Corporation, Bac-Man Geothermal Inc., First Gen Hydro Power Corporation, Ahunan Power Inc., and Olympia Violago Water and Power Inc. Also on the list are San Roque Hydropower Inc., Maibarara Geothermal Inc., Repower Energy Development Corporation, Pan Pacific Renewable Power Phils. Corporation, Pulangi Hydro Power Corporation, United Hydro Power Builders Corporation, and COHECO Badeo Corporation.
These companies have until February 5 to submit proof of their bid bonds. The auction is scheduled for February 11, with notices of award expected as early as May and certificates of award anticipated between June 6 and July 4.
The GEA program is central to the government’s strategy to increase renewable energy capacity, aiming for a 35% share in the national energy mix by 2030 and 50% by 2040.
Energy Secretary Raphael P.M. Lotilla emphasized the program’s role in promoting competition and transparency, stating, “By promoting competition and transparency, we are ensuring that the Philippines remains at the forefront of the global move towards a cleaner and more sustainable energy future.”
The GEA-3 targets a total of 4,475 MW of new renewable energy capacity, covering both non-feed-in-tariff (Non-FIT) eligible and FIT-eligible technologies.
This initiative aligns with the National Renewable Energy Program’s goals and reflects the country’s commitment to sustainable energy development.
The participation of these 13 companies underscores the growing interest in renewable energy projects, which are expected to play a crucial role in meeting the Philippines’ increasing electricity demand while ensuring environmental sustainability.
For more information on the GEA-3 and the list of qualified bidders, visit the Department of Energy’s official website.