THE Department of Energy (DoE) said that it is planning to hold the Green Energy Auction (GEA) for offshore wind projects this year or in 202In an energy forum held on Thursday, DoE Undersecretary Rowena Guevarra said that the GEA being held this year is possible but there will be several factors that need to be sorted out first.

"For the GEA for offshore wind, it could happen between 2024 and 2025," said Gueverra.

"For the year 2024, it is still possible to hold it, but we will need our developers to chime in and help us submit variables needed for the Green Energy Auction Reserve (GEAR) price so that we can submit that to the Energy Regulatory Commission," she added.

According to the DoE, the GEAR price is the maximum price offered on a peso per kilowatt-hour basis which, in turn, will serve as the cap for the auction conducted for the period during which the tariffs are in effect.

The utilization of offshore wind is gaining momentum in the Philippines as 82 offshore wind service contracts have already been awarded, totaling 63.36 gigawatts.

These are located mainly in areas west of Metro Manila, the north of Luzon, and around Mindoro, Panay and the Guimaras strait.

Guevarra said that if this potential can be fully utilized, the Philippines will finally be able to compete with the rest of its Asean (Association of Southeast Asian Nations) neighbors.

"If all of this offshore wind potentials can be realized, then finally, our per capita consumption can now be equal with our Asean neighbors," Guevarra said.