The Department of Energy (DOE) has officially released the Notice of Award (NOA) for the Green Energy Auction 3 (GEA-3), today, 10 June 2025, listing the potential winning bidders, their corresponding offered capacities, and the ERC-recommended rate.

Among the awarded technologies, Impounding Hydropower with a Delivery Commencement Period (DCP) of 2028–2030 and an installation target of 300 megawatts (MW) includes two (2) bids from Pan Pacific Renewable Power Phils. Corp., totaling an Offered Capacity of 300 MW.

For Pumped-Storage Hydropower (PSH) Lots 1, 2, and 3, covering DCPs from 2028 to 2035 and a combined installation target of 4,250 MW, seven (7) bids were considered from Coheco Badeo Corporation, Olympia Violago Water and Power, Inc., Ahunan Power Inc., Pan Pacific Renewable Power Phils. Corp., and San Roque Hydropower, Inc., with an aggregate offered capacity of 6,350 MW.

Geothermal, with a DCP of 2025–2027 and a 100 MW target, three (3) bids from Energy Development Corporation and Bac-Man Geothermal, Inc., were also considered offering a total capacity of 30.887 MW.

The release of the NOA followed a comprehensive multi-agency evaluation process. The Green Energy Auction – Bids Evaluation and Awards Committee (GEA-BEAC) conducted legal and technical assessments of submissions made by Qualified Bidders via the DOE’s electronic bidding platform during the Auction Proper held on 11 February 2025. These evaluations culminated in the endorsement of eligible price offers to the Energy Regulatory Commission (ERC) on 20 February 2025.

Subsequently, the ERC completed its financial review of the endorsed offers and transmitted the Financial Evaluation Report to the DOE on 15 April 2025. From 16 April through May 2025, the DOE’s Green Energy Auction Committee (GEAC) and the ERC engaged in a series of communications and meetings to finalize the list of Bidders eligible for award under GEA-3.

The NOA is subject to the following conditions:

• Non-FIT Green Energy Tariff (GET): The approved PhP/kWh or PhP/kW/h rate by the ERC shall apply, pursuant to DC2023-10-0029, as amended.
• PSH Capacity Limitation: Section 9.4.4 of the Terms of Reference shall not apply to Pumped-Storage Hydropower. The approved GET will only apply to the actual Offered Capacity, excluding the additional 50% margin, in view of the constraints of ERC’s Pricing Determination Mechanism (PDM) Rules.
• Advisory Cancellation: Item No. 3 of GEA Advisory No. 1, dated 27 December 2024 is canceled. Limiting the pricing of Available Capacity to Incremental Costs after the 20-year supply delivery period would be inconsistent with the PDM Rules of the ERC.

Under the terms of the NOA, all Potential Winning Bidders must confirm their acceptance in writing and submit post-auction documentation within fifteen (15) calendar days from the NOA’s publication. Required submissions include:

• The original Affidavit of Undertaking to deliver the offered capacity;
• The original Performance Bond.

Failure to submit the required documents after accepting the award will result in forfeiture of the Bid Bond.

This latest round under GEA-3 marks another significant milestone in the Philippine government’s effort to accelerate renewable energy development, enhance grid reliability, and meet long-term clean energy goals. ###

RCLG/MCC/MPC/RBDG/ADF/RMH