Green energy auction program boosts RE investments 

The government’s green energy auction (GEA) program is driving investments in the Philippines’ renewable energy (RE) sector, boosting the bid to increase the share of national sources in the country’s energy mix, according to a report by Philippine News Agency.

DOE data show that as of 2024, total installed RE capacity in the country is around 8,000 megawatts (MW). Last year alone, installed RE capacity posted a record 794.34 MW.

In a briefing on Wednesday, Department of Energy (DOE) Undersecretary Dr. Rowena Cristina Guevara said the government is set to auction 19,000 megawatts of RE capacity this year.

“What we’ve found out is that there is appetite from our local banks in investment in the renewables. What is driving now the investment landscape is actually the green energy auction program,” she said.

The DOE aims to bring the share of RE to the country’s total energy mix to 35 percent by 2030, and to 50 percent by 2040.

To date, the bulk of RE capacity in the country is composed of hydro, geothermal, wind, and solar.

During the day, DOE released the list of bidders that accepted the bid awards under GEA-3, which is expected to provide a total capacity of 6,677.218 MW to be delivered between 2025 and 2035.

The bidders are Pan Pacific Renewable Power Philippines Corp, which accepted the award for three hydroelectric power projects (HPP) in Apayao province; Coheco Badeo Corporation, which accepted a 500 MW Kibungan Pumped-Storage HPP in Benguet; Olympia Violago Water and Power, Inc. for the 600-MW Wawa Pumped-Storage 1 HPP in Rodriguez, Rizal; and Ahunan Power, Inc. for a 1,400-MW Pakil Pumped-Storage HPP in Pakil, Laguna.

Also, San Roque Hydropower, Inc. for three pumped-storage projects in Itogon, Benguet and Malay, Aklan; and Energy Development Corporation for two geothermal facilities in Bago City, Negros Occidental and Sorsogon City, Sorsogon.

The DOE said a dialogue with key players in the offshore wind sector is also set for June 30, 2025, after the release of the Draft Terms of Reference (TOR) and Notice of Auction (NOA) for the 5th round of the GEA-5 on June 11.

“This dialogue is critical in ensuring all stakeholders have a collaborative understanding of the draft NOA and TOR, and are able to contribute to its refinement,” Guevara said.