Thirteen companies with 21 projects have qualified for the third round of the Green Energy Auction Program (GEA-3), according to the Department of Energy (DOE).
The auction, set to begin on February 11, will offer 4,250 MW for pumped-storage hydropower, 300 MW for impounding hydropower, and 100 MW for geothermal technologies.
Winning bidders, who will receive incentivized power rates, will be announced in May.
Qualified geothermal projects include those from Maibarara Geothermal Inc., Energy Development Corp., and Bac-Man Geothermal Inc.
Impounding hydropower projects from Pan Pacific Renewable Power and Pulangi Hydro Power, along with several pumped-storage hydropower projects from companies such as Ahunan Power Inc. and First Gen Hydro Power Corp., have also been approved.
Source: PhilNews24 | January 30, 2025
