Fourth clean energy auction progresses

The Department of Energy (DOE) has wrapped up the fourth Green Energy Auction (GEA-4), awarding 88 percent of the targeted capacity across ground-mounted and floating solar, onshore wind, and integrated solar with energy storage systems (IRESS).

- By GABRIELL CHRISTEL GALANG

In a statement, the DOE has reported that the preliminary auction results showed 9,423 megawatts (MW) worth of subscribed renewable (RE) capacity, which is below the initial installation target of 10,653 MW.

“These commitments came from a total of 111 accepted bids, underscoring the robust response of the private sector to the government’s call for clean energy investment,” it said.

While the majority of the target capacity has been auctioned off, some of the floating solar, onshore wind, and IRESS technologies were left unsubscribed.

According to the DOE, these unsubscribed capacities will be offered to other qualified bidders whose bids exceeded the initial targets, to ensure all opportunities for RE are maximized.