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The United Kingdom and the Philippines have reached significant milestones in renewable energy development, strengthening their partnership through key investments and projects. Events held on November 20 and 21 highlighted the UK’s role in driving sustainable energy solutions across the archipelago.
$150 Million Wind Farm Initiative
A dinner reception hosted by the British Embassy in Manila on November 20 spotlighted a landmark collaboration between Citicore Renewable Energy Corporation and Actis, a UK-based infrastructure investment firm. The partnership, supported by a $150 million equity investment, aims to develop four wind farms across Luzon and Visayas with a total capacity of 380 MW.
These projects, secured through the Department of Energy’s Green Energy Auction Program (GEAP), represent a pivotal step in bolstering the Philippines’ renewable energy output.
Terra Solar Project Breaks Ground
On November 21, Actis and Solar Philippines New Energy Corporation celebrated the groundbreaking of the Terra Solar Project in Nueva Ecija. With a $600 million equity investment from Actis, this project is set to become the Philippines’ largest solar energy initiative. Once operational, it will provide affordable, reliable energy to millions, further accelerating the country’s clean energy transition.
British Ambassador Laure Beaufils lauded the developments, emphasizing the shared vision of both nations:
“The United Kingdom is proud to partner with the Philippines in its renewable energy journey. These projects not only contribute to a greener future but also foster innovation and strengthen our bilateral ties.”
UK Investment in Citicore IPO
In another notable achievement, Citicore secured $12 million in UK investment through its initial public offering (IPO), reflecting the growing confidence in the Philippines’ clean energy sector.
Driving Global Green Energy Goals
The events underscored the transformative impact of international partnerships in combating climate change and promoting sustainable development. As the UK and the Philippines deepen their collaboration, these initiatives mark a significant stride toward achieving global clean energy objectives. |
