The Department of Energy (DOE) is set to release the terms of reference (TOR) for the fourth round of the Green Energy Auction Program (GEA-4) this February, marking a significant push toward the country’s renewable energy targets.
For the first time, GEA-4 will include the Integrated Renewable Energy and Energy Storage System (IRESS), which focuses on solar power plants integrated with Battery Energy Storage Systems (BESS).
IRESS combines renewable energy technologies with various energy storage solutions to improve reliability and efficiency in the energy grid.
DOE officials emphasized that liquefied natural gas (LNG) will not be included in this auction round, reinforcing the country’s commitment to cleaner energy sources.
The TOR will outline the guidelines for the auction, including technical, financial, and commercial requirements.
It will also incorporate lessons learned from previous auctions to ensure a more streamlined and transparent process.
The document will include auction design, bid bonds, bidding instructions, templates, and post-auction requirements to guide participants.
To promote stakeholder engagement, the DOE will conduct a dialogue session on the draft TOR, allowing industry players to provide input before the final version is released.
The draft Notice of Auction, TOR, and schedule for stakeholder consultations will be accessible on the DOE’s official website.
The Green Energy Auction Program plays a key role in achieving the government’s target of a 35% renewable energy share in the national energy mix by 2030.
The program provides renewable energy developers with opportunities to secure long-term contracts, helping accelerate the country’s transition to sustainable energy.