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DOE kicks off 5th round of green energy auction focusing on offshore wind projects

malaya Business Insight

March 03, 2026

THE Department of Energy (DOE) said proceedings for the 5th round of the Green Energy Auction (GEA5) program intended for offshore wind (OSW) projects have formally opened for registration of qualified suppliers.

- JED MACAPAGAL

In a statement yesterday (Monday), the DOE said the last day of registration will be on March 16 with actual opening of bids set on August 27, 2026. Validation of the potential list of winners will happen by September this year.

GEAS5 will offer incentives to fixed-bottom OSW projects for a total capacity of 3,300 megawatts (MW) that must be completed between 2028 and 2030.

Under the current setup of GEA, interested renewable energy (RE) developers will compete for incentivized fixed power rates by offering prices that are lower than, or equal to the Green Energy Auction Reserve (GEAR) price set by the Energy Regulatory Commission (ERC).

But projects qualified under GEA are provided with specific target completion dates in order to retain their incentives.

Diese Geschichte stammt aus der March 03, 2026-Ausgabe von malaya Business Insight.

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