The Department of Energy (DOE) nearly swept its renewable energy target in the Fourth Round of the Green Energy Auction Program (GEA-4), booking a 96 percent success rate and signaling surging investor appetite for the country’s clean power build-out.

“The total awarded capacity reached an impressive 10,195.49 meagwatts (MW), with the successful rate of 96 percent from the installation target and committed to be delivered starting 2026 until 2029,” the DOE said Thursday.

The DOE said the auction drew “robust participation from renewable energy developers nationwide,” producing 123 winning bidders across ground-mounted solar, roof-mounted solar, floating solar, integrated renewable energy with energy storage systems (IRESS), and onshore wind.

“This overwhelming response reflects the growing confidence of investors in the Philippines’ renewable energy sector and underscores the country’s commitment to achieving its clean energy goals,” the agency added. 

Solar projects led the charge, with 4,179.09 MW of ground-mounted facilities across Luzon, Visayas, and Mindanao. 

Floating solar capacity reached 2,284 MW, anchored by large deployments in Laguna, Pampanga, and Negros, while onshore wind added 2,518.29 MW, led by projects in Quezon, Sorsogon, and parts of the Visayas. 

Battery-paired IRESS capacity totaled 1,189.29 MW, bolstering grid reliability, while roof-mounted solar contributed 24.82 MW to expand urban and decentralized energy use.

The DOE set a 6 December deadline for winning bidders to submit affidavits of undertaking, performance bonds, system impact studies, and proof of financial obligations.

The auction was run under DOE Circular No. DC2021-11-00361 and the GEA-4 Terms of Reference.