ACCIONA Energía signs a Memorandum of Understanding with the Government of Cebu (Philippines) and Philippine consultancy Freya Renewables. They will develop a 150 MW photovoltaic power plant in the municipality of Daanbantayan, at the northern tip of the island. This collaboration marks a significant step in the Philippines’ energy transition.
Commitment to Clean Energy
The Memorandum of Understanding (MOU) was signed by Gwendolyn Garcia, Governor of Cebu, Rafael Esteban, Global Business Development Director of ACCIONA Energía, and Fermin Álvarez, Managing Director of Freya Renewables, at a ceremony held in Cebu City. This initiative demonstrates the Cebu Provincial Government’s commitment to decarbonization and 100% clean energy supply in the province.
Economic impact
“We are very pleased to be working with the Provincial Government of Cebu to accelerate decarbonization and improve the supply of 100% clean energy in the province of Cebu,” said Rafael Esteban. Cebu Governor Gwendolyn Garcia defined the partnership as mutually beneficial. It also demonstrated the Provincial Government’s willingness to facilitate relations with local communities and entities.
In the years to come, this photovoltaic plant will provide cheaper energy for the province of Cebu. This will attract more investment and help improve the local economy. This initiative is part of the efforts of the Philippine government. The aim is to promote renewable energies and reduce dependence on imported fossil fuels. They can also increase the share of renewable energies in the energy mix. An estimated 35% by 2030 and 50% by 2040.
ACCIONA’s commitment in the Philippines
ACCIONA, which has been operating in the Philippines since 2016, is strongly committed to the development of sustainable projects. These include the Cebu Cordova Link Expressway (CCLEX) and modern water treatment facilities. This collaboration strengthens our presence in the renewable energies sector in the Philippines.
The signing of this MOU reflects a shared vision in favor of clean energy. It is part of a global approach to meeting today’s energy needs. It also guarantees a cleaner, more prosperous future for the province of Cebu.
Energy Issues
This collaboration between ACCIONA Energía, the Provincial Government of Cebu and Freya Renewables underlines the growing importance of renewable energies in the Philippines’ energy transition. Reducing dependence on imported fossil fuels is a major objective for the country. It aims to significantly increase the share of renewable energies in its energy mix.
By offering a clean and affordable source of energy, this project will help attract investment and support the less privileged economic segments of the population. This is a significant step towards a more sustainable and prosperous future for the province of Cebu.
Final Analysis
The signing of the Memorandum of Understanding between ACCIONA Energía and the Provincial Government of Cebu, in partnership with Freya Renewables, marks a major step forward in the Philippines’ energy transition. This 150 MW photovoltaic power plant project represents a commitment to clean energy and sustainability. It will help reduce the country’s dependence on imported fossil fuels, while promoting local economic development. This initiative reflects the Philippine government’s efforts to increase the share of renewable energies in its energy mix, and paves the way for a cleaner, more prosperous future for the province of Cebu.
