Developer Acciona Energía has acquired an 80% stake in Philippine consultancy Freya Renewables, increasing its presence in the country.
On a visit to the Philippines, Acciona chairman and chief executive José Manuel Entrecanales also committed to expanding the activities of acciona.org, the company’s foundation, providing access to electricity through solar home systems to Palawan’s communities, as part of its Light at Home program.
The company’s acquisition of the stake in Freya Renewables brings an additional portfolio of 880MW under development.
During his trip, Entrecanales – who also held meetings with secretary Frederic Go, special assistant to the president for investment and economic affairs, and Cebu Governor Gwendolyn Garcia, among others – also confirmed Acciona Energía will soon construct, operate, and maintain a 150MW solar power plant in Daanbantayan, the country’s first public-private-partnership in solar power generation.
The renewable energy company recently announced the development of another 156MW wind farm in the municipality of Pantabangan, 150km north of Manila and has started construction of the 100MW Kalayaan 2 wind array in Laguna Province.
The Philippines government is promoting the development of renewables to reduce its dependence on fossil fuels, and it has set targets to increase the share of renewables in the energy mix to 35% by 2030 and 50% by 2040.
Entrecanales also visited El Nido in Palawan to witness firsthand the impact of the acciona.org foundation initiatives in the country.
Through collaborations with the Ayala Foundation and co-financing from the Spanish Agency for International Cooperation and Development, Acciona has already benefitted 600 households with its clean energy program for off-grid and underserved communities, said the developer.
It now plans to extend support to a further 600 homes, along with 20 community centres and businesses. Acciona is set to expand its reach to rural communities across Palawan, impacting over 1500 households by 2025.
In addition to its local initiatives, acciona.org is exploring collaborations with organizations such as Unicef and the Green Climate Fund to amplify its impact. Ongoing discussions with stakeholders highlight the organization’s commitment to creating lasting change beyond Palawan, to other areas in the Philippines.