Ayala-led ACEN Corporation pushes for the development of its first 1,000 MW floating solar project situated in Laguna Lake after sealing an agreement today with the Laguna Lake Development Authority (LLDA) to lease 800 hectares of Renewable Energy Areas (REAs) in Laguna, Philippines.
The signed Renewable Energy Contract Area Utilization (RECAU) supports the development of its first large-scale solar project, which highlights ACEN’s commitment to incorporating emerging technologies into its growing RE portfolio.
“As we explore the potential of our first large-scale floating solar project which will be a crucial part of ACEN’s master plan to achieve our 2030 goal, we are excited to spearhead this energy innovation in the Philippines. We are committed to expanding our clean energy assets while addressing land scarcity,” ACEN president and CEO Eric Francia said in a statement
This renewable energy venture is a tangible opportunity for ACEN to take on new technologies while contributing to the Luzon grid, Francia noted, adding that ACEN’s potential first large-sale floating solar project will strengthen the country’s energy self-sufficiency and will address pressing climate change concerns.
ACEN pursues its goal to be the largest listed renewables platform in Southeast Asia with a 20 GW renewables capacity target by 2030.
