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The British Embassy in Manila marked two significant milestones in the UK-Philippines renewable energy partnership.
On November 20, a celebratory dinner highlighted the collaboration between Citicore Renewable Energy Corporation and Actis, a UK-based infrastructure investment firm. This partnership will develop four wind farms across Luzon and Visayas, adding a combined capacity of 380 megawatts.
These projects, supported by a $150m equity investment, secured offtake agreements under the Department of Energy’s Green Energy Auction Program (GEAP), emphasising the potential of international cooperation in advancing clean energy.
Solar development
The following day, Actis broke ground on the Terra Solar Project in Nueva Ecija, which is set to become the largest solar energy initiative in the Philippines.
Developed by Solar Philippines New Energy Corporation with $600 million in equity investment from Actis, the project promises to deliver affordable, reliable, and sustainable energy to millions of Filipinos.
His Majesty’s Ambassador to the Philippines, Laure Beaufils, says:
“The United Kingdom is proud to be a partner in the Philippines’ renewable energy journey. These investments reflect our shared vision for a sustainable future and underscore the strong ties between our two nations.
Projects like these not only provide clean energy to millions but also create opportunities for innovation and progress in the fight against climate change.” |
