The government is assuring the country’s energy security by ramping up new capacities to the electricity grid and encouraging sustainable supply, especially in the short- to medium-term period.
The GEAP enhances the RE programs in general by promoting a competitive setting of rates for RE supply in the country and ensures the utilization of efficient RE technologies for low carbon shift in the energy sectors.It is one of the best ways to accelerate the development of RE systems and the promotion and commercialization of its applications, and encourage RE private sector participation and investment.
Under the guidelines, the DOE will publish the notice of auction on its website and in at least one newspaper of general circulation. The estimated capacities for non-FIT eligible RE technologies involves 699 MW from impounding hydro; 3,120 MW from pumped-storage hydro; and 380 MW from geothermal.