Get ready for a major green energy event in the Philippines!

The Philippines is gearing up for a significant green energy milestone. The country's Department of Energy (DOE) recently announced that they will hold their fourth Green Energy Auction (GEA-4) in the last quarter of 2024. This event presents a golden opportunity for stakeholders to bid on projects integrating renewable energy with energy storage systems.

Key Announcements and Insights from the DOE

This exciting development was foreshadowed by DOE Assistant Secretary Mario C. Marasigan earlier this month during his keynote speech at the Energy Storage Summit Asia 2024 in Singapore. Marasigan emphasized the critical role that energy storage will play in the sustainable and resilient energy future of the Philippines. Now, those plans are set to materialize with the upcoming GEA-4 auction.

Ambitious Renewable Energy Targets for the Philippines

Underpinning these efforts is the Philippines' Energy Plan 2023-2050, which outlines ambitious goals for the country’s energy sector. The plan aims to generate 35% of the nation’s electricity from renewable sources by 2030, and an impressive 50% by 2040. The GEA-4 auction will be a key driver in reaching these targets, particularly through the integration of energy storage with renewable energy.

The Focus of GEA-4: Integrated Renewable Energy and Energy Storage

The GEA-4 auction will specifically invite bids on Integrated Renewable Energy and Energy Storage System (IRESS) projects. Additionally, the DOE has shown interest in exploring liquid natural gas (LNG) technologies in response to the growing share of variable renewable energy in the country’s energy mix.

Successes from Previous Auctions and Future Prospects

The Philippines has already seen success with its Green Energy Auctions. The first two rounds resulted in 5,306 MW of renewable energy capacity scheduled for operation between 2024 and 2026. The third round, to be held shortly before GEA-4, will offer approximately 4 GW to technologies that are ineligible for feed-in tariffs, such as run-of-river hydroelectric, geothermal, and pumped hydro energy storage.

Expanding the Energy Storage Landscape in the Philippines

While the Philippines has led Southeast Asia in deploying battery storage, recognition of its potential has so far mainly come from a few major power producers. Now, the DOE aims to widen the investment landscape and foster the integration of renewable energy with energy storage, potentially showcasing a variety of storage technologies such as batteries, flywheels, and pumped hydro energy storage.

Energy Storage Integration and Priority Dispatch Status

In a significant move, any energy storage systems paired with renewables that win at the GEA-4 auction will be recognized as integral components of the complete resource bundle rather than separate assets. This means they will retain their priority dispatch status, ensuring a promising future for both investors and the Philippines' renewable energy sector.

Invest in Reliable Energy Storage Solutions

For those looking to capitalize on the growing energy storage market, investing in high-quality and reliable battery solutions is essential. ACE Battery offers advanced, rigorously tested batteries that meet the highest safety and performance standards. To explore how ACE Battery can support your renewable energy projects, visit ACE Battery.