Saavedra-led Citicore Renewable Energy Corporation (CREC) has emerged as one of the biggest awardees in the Department of Energy’s (DOE) Green Energy Auction Program (GEAP) Round 4, securing 1,212 megawatts (MW) of renewable capacity—its largest auction win to date and a major addition to the country’s near-term clean-energy pipeline.

The DOE awarded the capacities on November 6, following the auction conducted in September. CREC bid for multiple ground-mounted solar and Integrated Renewable Energy and Energy Storage System (IRESS) projects across Isabela, Batangas, Quezon, and Negros Occidental.

“Bidding in the green energy auction signifies our commitment to deliver more renewable energy projects in line with DOE’s 50% in 2050,” said CREC President and CEO Oliver Tan. “This is no easy task for any energy player, but we accept this challenge as part of our full support to the government’s clean energy goals,” he added.

The award cements CREC’s position as one of the most aggressive contributors to the Green Energy Auction Program. In GEAP-2, the company secured around 916MWp of solar and onshore wind scheduled for completion between 2025 and 2028—part of its target to complete 1GW annually over five years.

CREC said several GEAP-2 facilities, including Citicore Solar Batangas 2 in Tuy, will be equipped with battery energy storage systems (BESS) to enable “baseload”-type renewable delivery. This allows solar plants to dispatch power beyond daytime hours. CREC’s Tuy facility, switched on last month, is the country’s first solar baseload plant to enter operation. 

Tan noted that the company’s recent energization of a Solar-with-BESS project has strengthened investor confidence, pointing to a USD 55-million loan secured in September from Pentagreen Capital. “We have the proof of concept through our recent Solar with BESS Energization, and with more investors believing in us, we will go full steam ahead with our succeeding gigawatts,” he said.

The newly awarded GEAP-4 projects are slated for delivery from 2026 to 2029, aligning with the DOE’s push to accelerate renewable energy additions to the grid as demand grows and coal retirements loom.

What do you think this means for the Philippines’ clean energy buildout and grid readiness? Let’s discuss.

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