The Philippines’ fourth Green Energy Auction (GEA-4) achieved an 88% subscription rate, with 9,423 MW of the 10,653 MW of allocated capacity subscribed for, according to preliminary figures published by the country’s Department of Energy (DOE).
The auction, first announced earlier this year, accepted bids for ground-mounted, roof-mounted and floating solar, as well as onshore wind and integrated solar with energy storage systems (IRESS).
The DOE said in a statement that the unsubscribed capacity consists mainly of floating solar, onshore wind and IRESS allocations.The unsubscribed capacity will be offered for subscription to qualified bidders with accepted bids that exceeded the initial targets. The department noted that this mechanism ensures unsubscribed installation targets are maximized under the auction, meaning “no opportunity for renewable energy development is left” unused.
The auction received 111 accepted bids from private developers. Winning bidders will advance their projects by submitting post-auction requirements, including a performance bond and system impact studies. The government said this process ensures the pledged capacities are fully delivered and technically verified for grid integration.
Projects awarded under GEA-4 are expected to start delivery between 2026 and 2029.
The country’s third green energy auction (GEA‑3) drew 7.5 GW of bids earlier this year, mainly driven by pumped‑hydro storage and far exceeding its 4.65 GW target. The GEA-2 auction allocated 1.97 GW of solar capacity in July 2023, with the selected developers securing 20-year power purchase agreements.
The Philippines has committed to achieving a 35% share of renewables in its power generation mix by 2030, increasing to 50% by 2040 and more than half by 2050.
