DOE rolling out P25 trillion renewable auction plan

MANILA, Philippines — The Philippine renewable energy sector may unlock P25 trillion worth of investments following the government’s rollout of a multi-year auction plan designed to deliver at least 25 gigawatts of capacity.

After a recent crackdown on nonperforming deals, the Department of Energy (DOE) announced a 10-year green energy auction (GEA) program aimed at scaling up the share of renewables in the country’s power mix.

Apart from the upcoming two competitive biddings this year, the DOE plans to launch four more auctions before President Marcos ends his term in 2028.

GEA-6 will offer capacities from onshore wind and floating solar technologies, while GEA-7 will auction rooftop solar and integrated solar with battery energy storage systems.

GEA-8 will cover solar on stilts, agri-solar and canal-top solar contracts, while GEA-9 will include biomass, geothermal, solar, hydropower and onshore wind projects.

Energy Secretary Sharon Garin told reporters that achieving the 2035 target would require around P25 trillion in investments.

“By preparing a clear, auction-backed pipeline, we are giving developers and financial institutions the market visibility they need to plan, mobilize capital and deliver projects on schedule,” Garin said.

For these initial auctions, the DOE aims to deliver at least 3,285 megawatts of solar capacity by 2027 and 2028. Another 5,565 MW is expected to come on stream from 2028 to 2035.

Subsequent auctions for the remaining capacities, meanwhile, will be scheduled according to project availability.

“An energy future that is resilient, secure, inclusive and clean lies within reach,” the energy chief said.

Last year, renewable energy projects accounted for the bulk of the total green lane investments at P5.21 trillion, according to the Board of Investments.