Following a year of policy advancements aimed at accelerating renewable energy development, the Philippines is poised for an increase in green energy auctions. The Developers of Renewable Energy for AdvanceMent Inc. (DREAM) anticipates further auctions for various renewable energy sources, driven by government efforts to attract foreign investment and ensure a stable energy supply.
After putting in place the policies and framework meant to achieve the country’s renewable energy (RE) goals, the umbrella organization of all renewable energy (RE) associations in the country is expecting more green energy auctions to take place this year. The Developers of Renewable Energy for AdvanceMent Inc.
(DREAM) said 2024 was “a banner year” for the Philippine energy sector in terms of numerous policies and regulatory issuances, all geared towards attracting more foreign investments, especially in renewable energy. DREAM President Jose Layug Jr. said the Department of Energy (DOE), in coordination with the National Grid Corporation of the Philippines, Philippine National Oil Co. and other government agencies, has placed emphasis on transmission network upgrades and expansion of ports to ensure stable and resilient energy supply.These include the conduct of Green Energy Auctions for onshore and offshore wind; ground-mounted, floating and rooftop solar; biomass and waste-to-energy resources; geothermal; run-of-river and impounding hydro; integrated renewable energy storage systems opportunities; and natural gas utilization, both through liquefied natural gas (LNG) and exploration of indigenous gas resources. Moreover, Layug said that with almost 60 percent of energy consumption coming from transportation and households, decarbonizing these sectors would require concerted government efforts, including the increased use of biofuels, higher targets for electric vehicles, installation of more solar rooftop systems and increased adoption of energy efficiency and conservation measures. “DREAM fully supports the government’s goal of a more dynamic and sustainable energy future that benefits communities, drives economic growth and improves well-being of Filipino consumers.” The much-anticipated green energy auction 3 (GEA3) will take place this yea
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