The Philippines Department of Energy has released the results of the fourth green energy auction (GEA-4). The tendered capacity was 10,653 MW, with 9,423.622 MW subscribed, reflecting an 88 per cent subscription rate. The auction covered ground-mounted, roof-mounted, and floating solar, onshore wind, and integrated solar with energy storage systems. A total of 111 bids were accepted.
However, certain segments such as floating solar, onshore wind, and integrated solar with storage were left partially unsubscribed. As per the auction rules, these unsubscribed capacities will be offered to qualified bidders with accepted bids more than the initial targets. This approach is aimed at ensuring the maximum utilisation of installation targets under GEA-4.
The winning bidders are required to complete post-auction steps including submission of affidavits of undertaking, performance bonds, and system impact study. The awarded projects are scheduled for delivery between 2026 and 2029. The Philippines has a renewable energy target of 35 per cent by 2030 and 50 per cent by 2040.