Philippines awards 1.96GW of solar PV projects in energy auction

The Philippines has awarded 1.96GW of solar PV projects in the latest energy auction.

The Department of Energy (DOE) awarded the projects under Green Energy Auction Round (GEA2).

As per the authorities, out of the 1.96GW, “majority was ground-mount PV due for construction between 2024-26, with 90MW awarded to floating solar projects and around 10MW to rooftop installations,” it said in a statement.

Among the winning projects, the largest is the 274MW Ixus Bugallon project awarded to Ixus Solar Energy Corp. It is located on the island of Luzon.

According to the department, “These winning bids were ranked based on offers from the lowest to highest bid prices and stacked corresponding to the respective RE technology per grid.”

The auction comes as the Philippines has set a target of addressing 35% of its electricity generation needs with renewable energy by 2030.

For this, the country needs to install 52GW of new renewables capacity. It has been focusing on all solar, wind and storage asset development.