Spanish Firm acquires 80% of Local RE consulting firm

solar

In an attempt to develop its presence in the country, Spanish firm Acciona is purchasing an 80% stake in Freya Renewables, a renewable energy (RE) advisory firm.

Philippine Star reported that the acquisition was made under the firm’s division, Acciona Energia, which would be the one to set up, manage, and support the first public-private collaboration in solar power generation in the country, the 150 megawatts (MW) solar power facility in Daanbantayan, Cebu.

By establishing this project, the entire country would gain an extra 880 MW of underdeveloped portfolio. 

Furthermore, the firm reported that it has two more projects in the pipeline: a 156 MW wind farm located 150 kilometers north of Manila in the municipality of Pantabangan, and the establishment of the 100 MW Kalayaan 2 wind farm in Laguna province.

Through its water and construction entities, Acciona has already made significant strides in the country since 2016, leading projects like the Putatan II and Laguna Lake drinking water treatment plants, as well as the Cebu Cordova Link Expressway (CCLEX).



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