Several companies, including a unit of San Miguel Corp., secured the majority of bids in the Philippines’ Fourth Green Energy Auction (GEA-4), which drew interest for 88 percent of its targeted renewable energy capacity.
SMC Global Light and Power Corp. and Citicore Renewable Energy Corp. were among the major winners in the auction, which received bids for 9,423.622 megawatts (MW) of renewable energy capacity, the Department of Energy (DOE) said Friday.
The GEA-4 included bids for ground-mounted, roof-mounted and floating solar, as well as onshore wind and integrated solar with energy storage systems (IRESS), with delivery scheduled from 2026 to 2029.
Other major winners were Joy-Nostalg Solaris Inc., Envision Energy Philippines Corp. and Nortesol Inc.
The DOE released the full list of accepted bids on Friday.
Citicore will deliver 10 ground-mounted solar projects totaling 540 MW and two IRESS projects with a combined capacity of 85.71 MW by 2026.
The company also submitted winning bids for two IRESS projects for 2027 (88 MW total), two ground-mounted solar projects for 2028 (100 MW total), and five ground-mounted solar projects for 2029 (240 MW total).
SMC Global’s accepted bids for ground-mounted solar projects include 108 MW for 2026, 297 MW for 2027, 660 MW for 2028, and 120 MW for 2029. The company also secured bids for floating solar projects with a capacity of 540 MW for 2028 and 500 MW for 2029.
Joy-Nostalg Solaris Inc. dominated the roof-mounted solar category with two projects totaling 15.447 MW for 2026 and one project for 2027 with a capacity of 9.7 MW.
Nortesol Inc. and its subsidiaries led the floating solar projects, with six projects at 72 MW each for delivery in 2027.
For onshore wind, Envision Energy Philippines Corp. had the largest offer, with three projects totaling 360 MW for delivery in 2029. Econergy Renewable Power Philippines Inc. followed with a 50 MW onshore wind project for 2026 and 300 MW for 2027.
The DOE accepted 111 bids in total, which the department said shows a strong response from the private sector to the government’s push for clean energy investment.
“We congratulate DOE for the successful implementation of the fourth contracting round of the green energy auction,” said Tetchi Capellan, founder and chair of the Philippine Solar and Storage Energy Alliance.
“The series of consultation with developers and the sharing of information on the cost, operations and construction timeline helped attract a good number of bidders,” said Capellan.
Capellan said an 88-percent subscription rate is a positive result, especially since the auction focused on emerging technologies like IRESS and floating solar.
“The technical standards for these two technologies are not yet set, thereby increasing financial risks, and 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.
The DOE said the winning bidders are required to submit post-auction documents, including an affidavit of undertaking, a performance bond and a system impact study to ensure the pledged capacities are delivered and technically verified for grid integration.
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