The Department of Energy (DOE) has released the results of the Green Energy Auction, in which Solar Philippines Nueva Ecija Corporation won 70% of all the auction's renewable energy capacity (1380 MW out of 1967 MW) and 91% of all the solar capacity (1350 MW out of 1490 MW). Part of this is to be sourced from the first 500 MW being developed by Solar Philippines Nueva Ecija Corporation (SPNEC), with the rest planned to be sourced from projects under entities that would be owned by SPNEC after its asset-for-share swap with its parent company. These include projects with a total 1.8 GW planned capacity: the Tarlac-2 400 MW Solar Farm; the Quezon 800 MW Solar Farm; the Leyte 400 MW Solar Farm; and the GenSan 200 MW Solar Farm.

Under the DOE's terms of reference, bid capacities refer to net export and not plant gross capacities. This brings the total capacity of substantially contracted Solar Philippines projects to over 6 GW, including the 3.5 GW solar, 4.5 GWh battery Terra Solar project, which is planned to supply Meralco 850 MW of mid-merit and has been touted as the "world's largest solar project"; another over 200 MW of projects contracted with Meralco; and over 175 MW of already operational capacity. The company has indicated that it has at least one more power supply offer to be disclosed.

This would complete its potentially 9 TWh per year of contracted energy, which would serve as a critical mass of demand for its 10 GW of developments scheduled to commence operations mostly between 2025 to 2026. Energy that remains uncontracted may be sold into the spot market.