Manila: Five renewable energy projects from publicly-listed Alternergy Holdings Corporation have been included under the Department of Energy's (DOE) fourth green energy auction.

According to Philippines News Agency, Alternergy disclosed to the Philippine Stock Exchange (PSE) that one onshore wind and two floating solar projects in Luzon made the preliminary list of accepted bids. Additionally, the company has an onshore wind project in the Visayas and a solar-plus-energy storage project in Mindanao included in the auction.

The DOE conducted the auction for GEA 4 on September 2. Alternergy's disclosure indicated that further details are pending final confirmation of its winning bids with the DOE.

In a statement, Alternergy president Gerry Magbanua expressed satisfaction, noting that the company's "Triple Play strategy" to expand its project pipeline with new renewable technologies has paid off. This strategy includes projects in floating solar and solar-plus-battery storage, alongside its core focus on developing onshore wind. Magbanua emphasized the company's commitment to pursuing a nationwide project pipeline with new projects in Luzon, Visayas, and Mindanao.

The DOE has reported that a total of 8,423.62 megawatts (MW) of capacity were submitted for the GEA 4 auction, representing an 88 percent subscription rate to the target of 10,653 MW. The DOE aims to increase the renewable energy share in the total energy mix to 35 percent by 2030, 50 percent by 2040, and over 50 percent by 2050.