UMVA has learned that a major milestone has been reached in the Philippines' renewable energy push, with nine bidders advancing in the country's first offshore wind auction.
These bidders have proposed a combined 9.26 gigawatts (GW) of renewable energy capacity, a significant step towards the government's goal of increasing renewable energy's share in the power mix to 35% by 2030 and 50% by 2040.
According to information obtained by UMVA, the Department of Energy had received 20 prospective offers for the fifth round of the green energy auction, but only nine have been shortlisted and are being assessed for their infrastructure plans.
The shortlisted bidders are expected to undergo a thorough evaluation of their infrastructure plans, with the goal of issuing a list of qualified bidders by July 3.
The Department of Energy has awarded a total of 95 offshore wind service contracts, aiming to generate 72 GW of capacity, but the response to the auction has been lukewarm, with only a few expressing interest in joining the offshore wind auction.
The green energy auction, launched in November 2025, sets an installation target of 3,300 megawatts for delivery from 2028 to 2030, with the auction proper commencing on August 27 and the notice of award expected to be issued by September 23.
The Energy Regulatory Commission has set a guide price for the auction at P11 per kilowatt-hour, providing a benchmark for bidders.
The Philippines is hoping to generate its first kilowatts of offshore wind power by 2028, as it moves to diversify its energy mix and reduce dependence on fossil fuels, with offshore wind expected to play a key role in achieving this goal.
However, challenges remain, including obtaining permits, developing port infrastructure, and ensuring power transmission availability, which could potentially hinder the country's progress towards its renewable energy targets.
Despite these challenges, the government remains committed to supporting the development of offshore wind energy, with innovative policies and frameworks being put in place to facilitate the integration of this new power source into the energy mix.
