The Department of Energy (DOE) of the Philippines has released the terms of reference (TOR) for the fourth round of the Green Energy Auction (GEA-4). The TOR lays out the technical, financial, and commercial requirements for project selection, ensuring a fair and competitive bidding process. The GEA-4 aims to add 9,378 MW of new capacity from ground-mounted solar, roof-mounted solar, floating solar, and onshore wind projects.
Furthermore, this auction incorporates renewable energy and storage systems, specifically solar power plants paired with battery energy storage systems. With an additional 1,100 MW of solar capacity integrated with energy storage, these projects are expected to enhance grid reliability and flexibility.
Earlier in January 2025, Masdar inked an implementation agreement and a MoU with the Philippines government to develop 1 GW of clean energy projects to strengthen its growing portfolio in Southeast Asia. These agreements were inked with the Department of Energy and the Board of Investments of the Republic of the Philippines respectively.
REGlobal’s Views: The Philippines has a renewable energy target of 35% by 2030 and 50% by 2040. Such auctions are very important for the country to attract private parties to set up large projects and achieve the planned targets. These auctions will help instill confidence in the country’s growing renewable energy market, and provide important learnings for future such projects.
