The National Transmission Corporation (TransCo) is set to perform a vital role in the Department of Energy’s (DOE) Green Energy Auction Program(GEAP) by managing the revenue claims of renewable energy (RE) developers participating in the initiative. This is an expansion of its role as the Feed-In Tariff Allowance (FIT-All) Fund Administrator.
The GEAP aims to help the government hit its goal of RE sources of having a 35-percent share in the country’s power generation mix by 2030.
In its report to Finance Secretary Carlos Dominguez III during the recent Department of Finance (DOF) Executive Committee (Execom) meeting, TransCo President Jainal Abidin Bahjin said that the Notice of Auction for the RE capacity under GEAP was released by the DOE last February 9, 2022.
The target is to cover about 2,000 megawatts of RE capacities; the bulk of which will be from solar energy, with 1,260MW allocation target. The remaining capacity is allocated to hydropower (130MW), biomass (230MW), and wind (380MW), Bahjin said.
The GEAP is anchored on DOE’s Department Circular 2021-11-0036 issued on November 3, 2021 providing the guidelines for the GEAP in the Philippines. This will also allow additional market options for the RE Developers and will promote a competitive setting of rates for RE supply in the country, according to the DOE.