DOE names 21 RE facilities qualified for GEA-3

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The Department of Energy (DOE) said 21 renewable energy (RE) facilities have qualified for the third round of the Green Energy Auction (GEA-3) to be set by next month, under a broader plan to reach a total installation target of 4,650 megawatts (MW) of RE supply.

Of those that qualified, seven projects are geothermal, four impounding hydropower and 10 pumped storage hydro (PSH), the latest auction announcement on the DOE’s website says. 

Under GEA-3, qualified bidders for geothermal are three power plants by Maibarara Geothermal Inc., two from Energy Development Corp. and another two from Bac-Man Geothermal Inc.

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For impounding hydro, two projects by Pan Pacific Renewable Power Phils. Corp. were qualified, together with one from Pulangi Hydro Power Corp. and another from United Hydro Power Builders Corp.

For pumped storage hydro, qualified bidders were four projects from San Roque Hydropower Inc. and one project each from Ahunan Power Inc., First Gen Hydro Power Corp., Olympia Violago Water and Power Inc., Pan Pacific Renewable Power Phils. Corp., COHECO Badeo Corp. and Repower Energy Development Corp., the DOE said. 

Capacities to be auctioned off for GEA-3 are 300 MW for impounding hydro projects throughout the country, which must be operational between 2028 and 2030, and an equivalent of 100 MW for geothermal projects in the entire country, which must be running between this year and 2027.

The remaining 4,250 MW capacity under GEA-3 are all from pumped storage hydro, broken down to: 2,000 MW in Luzon, which must run from 2028 to 2030; another 2,000 MW also in Luzon, which must operate by 2031 to 2032; and the remaining 250 MW in Mindanao, which should be completed by 2031 to 2035.

Under the current setup of GEA, interested RE producers will compete for incentivized fixed power rates by offering prices that are lower than or equal to reserve prices set by the Energy Regulatory Commission, the DOE announcement said.

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