Philippines’ Green Energy Auction Heavily Oversubscribed With Nearly 7 GW of Pumped Hydro Bids
2025-02-14 09:41
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A pumped-hydro storage facility in Lithuania
Wedoany.com Report-Feb 14, 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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