Philippines’ green energy auction heavily oversubscribed with nearly 7 GW of pumped hydro bids

The country’s Green Energy Auction (GEA-3) attracted a cumulative 7.5 GW of projects, far surpassing the 4.65 GW installation target.

From ESS News

The Philippine Department of Energy (DOE) said on Tuesday that its GEA-3 auction round, focusing on technologies not eligible for feed-in tariff (FIT) such as pumped hydro storage, impounding hydropower, and geothermal, demonstrated an overwhelming response from industry stakeholders.

A total of 14 projects, with delivery period from 2025 to 2035, were submitted in the auction with a cumulative capacity of 7.5 GW, exceeding the installation target of 4,650 MW.

Offers for pumped hydro storage projects reached 6,950 MW, surpassing the 4,250 MW target installation.

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