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Manila Bulletin devider Business devider Trade & Industry devider DOE green energy auction awards majority of projects to CREC

DOE green energy auction awards majority of projects to CREC

Published Sep 5, 2025 03:58 pm
Citicore Renewable Energy Corp. (CREC) has secured the largest number of projects in the preliminary results of the Department of Energy’s (DOE) fourth Green Energy Auction (GEA-4).
The DOE’s advisory listed CREC, along with Ramon Ang-led SMC Global Light and Power Corp. and Joy-Nostalg Solaris Inc., as the developers with the most awards.
GEA-4, which concluded earlier this week, is a government initiative that auctions off capacity for various renewable energy sources, including ground-mounted, floating solar, onshore wind, and integrated solar with energy storage systems (IRESS).
The auction successfully bid out 9,423 megawatts (MW) of renewable energy capacity, reaching 88 percent of its 10,653 MW target.
According to the DOE, project completions are staggered over the next several years.
By 2026, 25 ground-mounted solar projects are expected to be completed, along with three IRESS, four roof-mounted, and four onshore solar projects.
By 2027, 12 ground-mounted solar projects are scheduled for completion. By 2028, 10 ground-mounted solar projects, six floating solar, six onshore wind, and four IRESS are scheduled to be finished.
The remaining 17 projects across ground-mounted, IRESS, floating solar, and onshore wind are anticipated for completion by 2029.
The DOE stated that any unsubscribed capacity will be offered to other qualified bidders to ensure that all renewable energy opportunities are utilized.
Winners are required to fulfill post-auction requirements, including an affidavit of undertaking and a performance bond. They must also secure a System Impact Study (SIS) from the National Grid Corporation of the Philippines (NGCP) to confirm the project’s feasibility for the grid.

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Citicore Renewable Energy Corp. (CREC) Department of Energy (DOE) green energy auction (GEA)
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