Renewable energy developers and stakeholders in the Philippines welcomed the successful completion of the fourth Green Energy Auction (GEA-4), which secured commitments for 9,423.622 megawatts (MW) of renewable energy (RE) capacity.
The subscribed capacity represents an 88-percent subscription rate against a target of 10,653 MW.
The Department of Energy (DOE) said the preliminary results demonstrated strong interest from developers for GEA-4, which included multiple RE technologies such as ground-mounted, roof-mounted, and floating solar; onshore wind; and integrated solar with energy storage systems (IRESS).
A total of 111 bids were accepted, which the DOE said underscores the private sector’s robust response to the government’s call for clean energy investment.
Energy Secretary Sharon Garin cited the auction’s importance to the Philippines’ energy transition.
“The results of GEA-4 affirm the strong partnership between government and the private sector in driving RE deployment,” Garin said.
“By securing over 9,000 MW of new clean energy commitments, and by offering unsubscribed installation targets to other eligible bidders, we are ensuring that our transition is ambitious, inclusive, and resilient,” she said.
While most of the installation targets were met, the DOE noted that some targets remained unsubscribed, particularly for floating solar, onshore wind and IRESS. In accordance with auction rules, these unsubscribed targets will be offered to other qualified bidders whose accepted bids exceeded the initial targets.
Tetchi Capellan, founder and chair of the Philippine Solar and Storage Energy Alliance, lauded the DOE’s efforts.
“We congratulate the DOE for the successful implementation of the fourth contracting round of the green energy auction,” Capellan said.
“The series of consultations with developers and the sharing of information on cost, operations, and construction timelines helped attract a good number of bidders,” she said.
Capellan noted that the auction was designed for emerging technologies, and an 88-percent subscription rate was a good turnout. “The technical standards for these two technologies [IRESS and floating solar] are not yet set, thereby increasing financial risks and the bankability of projects,” she said.
Angelo Kairos dela Cruz, executive director of the Institute for Climate and Sustainable Cities, called the GEA-4 results “encouraging.”
“I think it sends a very strong signal, not only here in the Philippines, but across the globe, that the Philippines can actually stand up and show proof why we are the second most attractive emerging economy for RE investments worldwide,” he said.
“I think GEA-4 and the next ones have learned a lot from the shortcomings and gaps of the first round of GEA,” he said.
The DOE said winning bidders would now submit post-auction requirements, including an affidavit of undertaking, a performance bond and a system impact study (SIS). This process, the department said, ensures the committed capacities are fully achieved and technically verified for grid integration.
Projects awarded under GEA-4 are expected to begin delivery between 2026 and 2029, which will contribute significantly to the country’s RE goals.
