ACEN exec: GEAP results a wakeup call for industry

📆 8/28/2023 8:49 PM
📰 BusinessMirror

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The low turnout in the second round of Green Energy Auction Program (GEAP) should serve as a wakeup call for industry players to double their efforts to help the government achieve a 35-percent renewable energy (RE) share in the power generation mix. “It [auction] was a wakeup call for the…

The low turnout in the second round of Green Energy Auction Program should serve as a wakeup call for industry players to double their efforts to help the government achieve a 35-percent renewable energy share in the power generation mix.

In July, the Department of Energy received commitments for only 3,580.76 megawatts out of the 11,600 MW offered under the GEAP2. It has yet to announce if it will rebid the remaining 8,019.24MW of unsubscribed RE projects for 2024 to 2026. The first round of GEA was conducted in June last year. It generated almost 2,000MW of capacities that were committed to deliver energy from 2023 to 2025.

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