Nine bidders have advanced in the first offshore wind auction, proposing to deliver a combined 9.26 gigawatts (GW) of renewable energy capacity, according to the Department of Energy (DoE). The development was reported by BusinessWorld, which cited Energy Undersecretary Mylene C. Capongcol.
The DoE had received 20 prospective offers for the fifth round of the green energy auction (GEA-5). The nine shortlisted bidders will now proceed to the infrastructure evaluation stage, where the viability of their proposed projects will be assessed.
Offshore wind is seen as a key component of the Philippines' renewable energy targets, with the government aiming to increase the share of clean energy in the power mix. The auction results are expected to accelerate the development of the country's offshore wind industry.