The Department of Energy (DOE) plans to auction 4,399 megawatts of capacity in August under the Third Round of the Green Energy Auction (GEA-3).
This initiative aligns with the Department’s goal of promoting increased utilization of the country’s renewable energy (RE) resources and achieving energy security and reliability.
GEA-3, scheduled for August 21, will cater specifically to Non-Feed-In-Tariff (Non-FIT) Eligible RE Technologies, including geothermal, impounding hydro, and pumped-storage hydro.
Department Circular No. DC2023-10-0029 provides specific auction policies and guidelines for these Non-FIT RE technologies in the Green Energy Auction Program.
Additionally, GEA-3 will encompass run-of-river (ROR) Hydro, which is a FIT-Eligible RE technology.
The estimated capacities for Non-FIT Eligible RE Technologies are 699 MW from impounding hydro, 3,120 MW from pumped-storage hydro, and 380 MW from geothermal. Target delivery for impounding hydro and pumped-storage hydro is set for 2028 to 2030, while for geothermal, it is from 2024 to 2030.
Furthermore, an estimated 200 MW of RE capacity from ROR Hydro is expected to be auctioned, with a target delivery period spanning from 2026 to 2028.
The DOE plans to publish the notice of auction on April 29, and post the list of qualified suppliers on July 4.
Awarding for FIT Eligible RE Technology (ROR Hydro) is scheduled for September 18, while the posting of the notice of award for non-FIT RE eligible technologies gGeothermal, Impounding hydro, and pumped-storage hydro) is slated for December 10, 2024.
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