GEA-3 attracts 7,500 MW in renewable bids, exceeds gov’t targets

The third Green Energy Auction (GEA-3) attracted 7,500 megawatts (MW) of renewable energy projects, exceeding the installation target of 4,650 MW. 

“The aggregate capacity of accepted bids underscores the growing confidence of investors and developers in the Philippine RE sector,” the Department of Energy (DOE) said in a statement last February 12.

(Also read: Renewable Energy Market begins full commercial operations)

The auction focused on technologies not covered under the feed-in tariff (FIT) scheme, such as pumped hydro storage, impounding hydropower, and geothermal.

Investors showed a strong interest in pumped-storage hydropower (PSH). The DOE received offers totaling 6,700 MW for pumped-storage hydropower projects in Luzon, exceeding the 4,000 MW target for the region. The auction also hit its 250-MW target for PSH in the Visayas.

PSH facilities can store energy from other RE sources for later use and inject power into the grid, supporting energy grid stability and RE integration.

At present, the only operational PSH in the Philippines is the government-owned Kalayaan 1 and 2 in Laguna with a total capacity of over 300 MW.

(Also read: Renewables make up lion’s share of new energy projects in 2025)

Impounding hydro projects garnered 550 MW worth of bids, exceeding its target of 300 MW. This hydropower technology uses a dam to store river water in a reservoir. Geothermal did not meet its 100 MW procurement target, attracting bids for only 30.887 MW.

“The bids in the auction were ranked based on offers from lowest to highest bid price and stacked corresponding to the respective RE technology until the installation target is met,” the DOE said.

After the Energy Regulatory Commission (ERC) has finished reviewing the price offers, the DOE will announce the winning bids. 

“The Certificate of Award will be released to the Winning Bidder upon complete submission of the post-auction documents under Section 9 of the Terms of Reference and affirmed in order by the GEA-Bids Evaluation and Awards Committee,” the DOE added.

Sources:

https://www.bworldonline.com/economy/2025/02/12/653014/green-energy-auction-attracts-bids-for-7500-mw-in-re-capacity/

https://doe.gov.ph/press-releases/doe-successfully-conducted-3rd-green-energy-auction-round

https://www.ess-news.com/2025/02/13/philippines-green-energy-auction-heavily-oversubscribed-with-nearly-7-gw-of-pumped-hydro-bids/

https://dailyguardian.com.ph/philippines-green-energy-auction-attracts-7500-mw-in-renewable-bids/