THE National Transmission Corp. (TransCo) will be managing the revenue claims of renewable energy (RE) developers participating in the Green Energy Auction Program (GEAP), the Department of Finance (DoF)said in a statement on Tuesday.
“This is an expansion of its role as the Feed-In Tariff Allowance (FIT-All) Fund Administrator,” the DoF said.
Finance Secretary Carlos G. Dominguez III chairs the TransCo board. GEAP is run by the Department of Energy (DoE).
Under the GEAP, the government aims to broaden the participation of RE in the power generation mix to 35% by 2030.
“The target is to cover about 2,000 megawatts (MW) of RE capacity; the bulk of which will be from solar energy, with a 1,260 MW allocation target,” TransCo President Jainal Abidin Bahjin said. “The remaining capacity is allocated to hydropower (130 MW), biomass (230 MW), and wind (380 MW),” the DoF said.
DoE Department Circular 2021-11-0036, which set the guidelines for the GEAP, was issued on Nov. 3, 2021. A Notice of Auction for the RE capacity was issued on Feb. 9, 2022.
The DoE launched the auction on June 17, with participants offering 1,966.3 MW of indigenous energy between 2023 and 2025. — Diego Gabriel C. Robles