ARKANSAS, Oct 21 (Future Headlines)- ACCIONA Energía has taken a significant step toward renewable energy development in the Philippines by signing a Memorandum of Understanding (MOU) with the Provincial Government of Cebu and Filipino consultancy Freya Renewables. The MOU outlines plans for a 150 MW photovoltaic plant located in Daanbantayan, at the northern tip of Cebu Island.

The MOU was officially signed during a ceremony in Cebu City. Signatories included Gwendolyn Garcia, Governor of Cebu; Rafael Esteban, Global Chief Business Development Director at ACCIONA Energía; and Fermin Álvarez, General Manager at Freya Renewables.

ACCIONA Energía’s global chief expressed the company’s commitment to accelerating decarbonization and enhancing the energy supply in Cebu with 100% clean energy. This project aligns with the broader efforts to transition to cleaner and more sustainable energy sources.

Governor Gwendolyn Garcia highlighted the mutual benefits of the partnership. She emphasized that the provincial government aims to facilitate relationships with local communities and entities to provide cheaper energy for Cebu. This initiative is expected to attract more investments and improve the economic well-being of the region.

The Philippine government has set ambitious targets to reduce its dependence on imported fossil fuels. By 2030, it aims to increase the share of renewable energy in the energy mix to 35%, with a further goal of 50% by 2040. This emphasis on renewable energy aligns with global efforts to combat climate change and promote sustainability.

ACCIONA has already established a significant presence in the Philippines. Since 2016, it has been active through its Water and Infrastructure divisions. The company has introduced modern and sustainable technologies, designs, and innovations in flagship projects in the country. Notable projects include the Cebu Cordova Link Expressway (CCLEX), the DWTP Putatan II water treatment plant, and the DWTP Laguna Lake.

The MOU sets the stage for a substantial 150 MW photovoltaic plant in Cebu, which will significantly contribute to clean energy generation in the province. As the Philippine government actively promotes renewables to reduce its dependence on imported fossil fuels, projects like this play a crucial role in achieving national energy targets and addressing environmental concerns.

The emphasis on facilitating local relationships and supporting the economic growth of the region underscores the holistic approach taken by ACCIONA Energía and the Cebu Provincial Government. By providing cheaper, clean energy and attracting investments, this project can benefit both the environment and the local economy.

The initiative aligns with global efforts to transition to more sustainable energy sources and reduce greenhouse gas emissions. As an established player in the Philippine market, ACCIONA brings expertise and experience to this renewable energy project, further contributing to the country’s transition to cleaner energy. The successful development of this 150 MW photovoltaic plant will mark a significant milestone in the Philippines’ journey toward a greener and more sustainable energy future.

Reporting by Kevin Wood; Editing by Sarah White