The Department of Energy (DOE) is set to conduct the 4th auction round under the Green Energy Auction Program (GEAP), or GEA-4, as part of its ongoing efforts to accelerate the development and utilization of the country’s renewable energy resources. For the first time, GEA-4 will include the Integrated Renewable Energy and Energy Storage System (IRESS). In this auction round, IRESS shall only cover solar power plants integrated with Battery Energy Storage Systems (BESS).

The DOE will release the GEA-4 Terms of Reference (TOR) within February. The TOR will outline specific provisions and procedures for the auction process, covering technical, financial, and commercial aspects. It will also incorporate insights and lessons learned from previous auction rounds.

Each auction round's TOR includes key GEA instruments such as the auction design, bonds, instructions to bidders, bidding data, forms and templates, and post-auction requirements. To ensure stakeholder participation, the DOE will conduct a dialogue on the draft GEA-4 TOR to gather feedback from relevant parties

The draft Notice of Auction, TOR, and the schedule for the stakeholder dialogue will be published on the DOE website.

The GEAP is a key initiative in the government’s strategy to expand renewable energy capacity and achieve a 35% share of renewables in the national energy mix by 2030. It provides energy developers with opportunities to secure contracts that support the growth of the country’s sustainable energy production. ###