The Philippines Department of Energy (DOE) has received an 88% subscription rate on its fourth Green Energy Auction (GEA-4). According to the preliminary auction results, over 9.4 GW of renewable capacities have been allocated out of the 10,653 MW installation target. The auction accepted a total of 111 bids covering solar (ground-mounted, roof-mounted and floating), onshore wind and solar+BESS. The unsubscribed capacity will be offered for subscription to other qualified bidders with accepted bids that exceeded the initial targets. Winning bidders should now move forward with the submission of post-auction requirements. Awarded projects are expected to come online between 2026 and 2029.
According to the Philippine Energy Plan, the country aims to achieve a 35% share of renewables of its power mix by 2030, 50% by 2040, and more than 50% by 2050.
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