MANILA: The Department of Energy (DOE) has issued the notice of auction and terms of reference for the third round of the Green Energy Auction (GEA-3) within the year. This initiative aims to accelerate the country's transition to renewable energy by targeting 4,475 megawatts (MW) of new renewable energy capacity. According to Philippines News Agency, the GEA-3 will cover both non-feed-in-tariff (non-FIT) eligible and FIT-eligible technologies. The auction capacity requirements for non-FIT eligible resources include 100 MW for geothermal, 300 MW for impounding hydropower, and 4,000 MW for pumped-storage hydropower. The delivery date for geothermal is set for 2025 to 2027, impounding hydropower for 2028 to 2030, and pumped storage for 2028 to 2032. For FIT-eligible renewable energy technology projects, the installation target is 75 MW for run-of-river hydro, with delivery expected between 2027 to 2029. The DOE emphasized that these projects will be crucial in meeting the country's growing electricity demand while ensuring sustainable power generation in the future. Energy Secretary Raphael Lotilla stated, "We are pleased to release the notice of auction and terms of reference of the GEA-3, a pivotal mechanism in accelerating our nation's energy transition. By promoting competition and transparency, we are ensuring that the Philippines remains at the forefront of the global move towards a cleaner and more sustainable energy future." He further added that GEA-3 provides a clear pathway to meet electricity demands in an environmentally sustainable manner. The DOE detailed that the supply contract for FIT-eligible renewable energy projects would be for 20 years starting from the commercial operation date (COD), while non-FIT-eligible projects would also have a 20-year delivery period from their respective CODs. Suppliers interested in participating must register with the DOE by submitting the required documentation as outlined in the TOR. The GEA Bids Evaluation and Awards Committee will review applications and p ublish a list of qualified bidders on the DOE's official website before the pre-bid conference. The registration of qualified suppliers will commence three working days after the publication of the Price Determination Methodology (PDM) and Green Energy Auction Reserve (GEAR) Price by the Energy Regulatory Commission.