Govt misses RE targets in GEA-4 auction

The Philippine government has fallen short of its renewable energy targets in the fourth Green Energy Auction (GEA-4), securing only 9,423.62 MW out of the 10,653 MW installation goal.

This represents an 88 percent subscription rate, with specific installation targets for floating solar, onshore wind, and integrated solar with energy storage systems (IRESS) largely unmet.

The GEA-4 attracted 111 accepted bids across various renewable energy sources including ground-mounted solar, roof-mounted solar, floating solar, onshore wind, and IRESS.

The Department of Energy (DOE) plans to offer the unsubscribed capacities to other qualified bidders who exceeded their initial targets, ensuring full utilization of RE development opportunities.

Despite the underperformance, Energy Secretary Raphael Lotilla stated that the GEA-4 results highlight a robust partnership between the government and the private sector in advancing renewable energy.