DoE awards contracts for 6,600 MW of green energy projects

On Tuesday, the Department of Energy (DoE) released notices of awards for Green Energy Auction 3, including impounding hydropower projects with a delivery commencement period from 2028 to 2030 and an installation target of 300 megawatts, pumped-storage hydropower lots covering Delivery Commitment Periods (DCPs) from 2028 to 2035 with a combined installation target of 4,250 MW, and geothermal energy projects with a delivery commencement period of 2025-2027 and a 100 MW target.

The DoE awarded contracts to seven bidders in the third round of the green energy auction (GEA-3), subject to acceptance and compliance with post-auction requirements, expected to deliver over 6,600 megawatts (MW) of capacity across 12 projects.

Among the winning companies are subsidiaries of San Miguel Global Power Holdings Corp. (SMGP), Prime Infrastructure Capital, Inc., and First Gen Corp., with Pan Pacific Renewable Power Phils. Corp. securing the largest capacity at 2,300 MW.

The Energy Regulatory Commission (ERC) recommended green energy tariffs for each project, ranging from P4.50 to P7.6441 per kilowatt-hour (kWh), and bidders must confirm acceptance and submit post-auction documents within 15 calendar days or risk forfeiture of the bid bond.

The Green Energy Auction underscores the DOE's commitment to fostering a fair and competitive environment for renewable energy development across the country, marking another significant milestone in the Philippine government’s effort to accelerate clean energy goals.