In a significant move, ACEN and its subsidiaries have officially entered into a Renewable Energy Contract Area Utilization (RECAU) agreement with the Laguna Lake Development Authority (LLDA) today. This landmark accord grants ACEN the lease rights to 800 hectares of Renewable Energy Areas (REAs) situated in Laguna, Philippines. This strategic collaboration signals a crucial advancement towards the realization of an innovative and expansive floating solar project, showcasing ACEN’s steadfast dedication to integrating cutting-edge technologies within its renewable energy spectrum.
The upcoming initiative will be located on Laguna Lake, which happens to be the largest freshwater lake in the Philippines. This project has the potential to add a significant capacity of approximately 1,000 MW to ACEN’s expanding renewable energy capabilities. This marks a significant achievement as the company delves into the incorporation of novel technologies within its renewable energy portfolio.
Eric Francia, ACEN president and CEO, said: “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.”
“This initiative is a tangible opportunity for ACEN to adopt new technologies, contribute to the Luzon grid, and bolster the Philippines’ energy self-sufficiency while tackling the critical issue of climate change,” he added.
After receiving an invitation to develop floating solar renewable energy projects on Laguna Lake, ACEN and its subsidiaries were granted Notices of Award by LLDA in July. Applications for Solar Energy Operating Contracts (SEOCs) have been submitted to the Department of Energy for eight parcels, each spanning a hundred hectares, situated in the southern and eastern parts of the lake.ACEN’s decisive strides within the renewable energy sector, including its foray into the floating solar market, reaffirm its dominant position in the region. The company is making significant progress in its array of new renewable energy projects, aiming to achieve a total of 20 GW in renewable energy capacity by 2030.
 agreement with LLDA, securing lease rights to 800 hectares of Renewable Energy Areas (REAs) in Laguna, Philippines. This strategic collaboration advances ACEN's innovative floating solar project, showcasing its commitment to cutting-edge renewable technologies. The initiative on Laguna Lake aims to add 1,000 MW to ACEN's renewable energy capacity, reinforcing its leadership in the sector and contributing to energy self-sufficiency while addressing climate change.){kind=link}