The Department of Energy (DOE) said foreign investor confidence in the Philippine energy sector remains strong despite ongoing corruption probes in other government projects, citing recent renewable energy auction results and sustained investor interest across the value chain.

Energy Secretary Sharon Garin told reporters at the Singapore International Energy Week that President Ferdinand Marcos Jr. personally initiated the investigation into alleged irregularities in flood control projects, a move she said demonstrates the administration’s transparency and accountability.

“I’m very bullish about energy projects—it’s private-driven, in foreign investments also,” Garin said. “Our President is quite straightforward about it. He’s even the one who started the whole thing. He wants transparency, fairness, and accountability.”

Garin said the administration’s firm stance on governance should reassure investors. “This shows that we are determined to make sure this is a well-run administration. For investors, that’s an assurance of confidence,” she said.

The DOE chief said confidence in the sector is reflected in the oversubscription of the fourth round of the Green Energy Auction (GEA-4), held on September 2. The auction secured 9,423 megawatts (MW) of new renewable energy (RE) commitments, representing 88% of the 10,653 MW target capacity for the round.

A total of 111 winning bids were awarded across solar, wind, and storage-backed projects. Unsubscribed allocations—particularly for floating solar, onshore wind, and integrated solar with storage—will be reoffered under auction rules. The projects are expected to deliver power between 2026 and 2029.

Energy Undersecretary Felix William Fuentebella said the DOE also continues to receive strong interest in the upstream oil sector, with eight new service contracts signed and three more under evaluation.

“A Middle Eastern country, Abu Dhabi, has also expressed interest in investing in upstream projects in the Philippines,” Garin added. “Investors understand that the sector is private-driven and policy-driven—it’s about good governance, not corruption.”

Fuentebella said energy investors have praised the Philippines for its clear and predictable policy framework. “They told us that the fundamentals are in place. The environment for investment is very positive,” he said.

Garin said the continued interest from global investors underscores the country’s growing reputation as a competitive destination for clean energy and responsible upstream development.

Do you think transparency reforms will help attract more global investors to the Philippines’ energy sector? 

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