- Exploring new technologies to bolster its renewables expansion, ACEN plans to develop ~1,000 MW floating solar across 800 hectares of Laguna Lake’s water surface, subject to regulatory approvals
- The large-scale floating solar project will be a significant milestone for ACEN as the company leverages on enabling technologies in its renewables ramp up
08 August 2023 ━ ACEN, through its subsidiaries, today signed a Renewable Energy Contract Area Utilization (RECAU) agreement with the Laguna Lake Development Authority (LLDA) to lease 800 hectares of Renewable Energy Areas (REAs) in Laguna, Philippines. This agreement marks a pivotal step toward the development of a groundbreaking large-scale floating solar project, underscoring ACEN’s commitment to incorporating emerging technologies into its renewable energy portfolio.
The project will be situated on Laguna Lake, the Philippines’ largest freshwater lake, and could contribute a substantial ~1,000 MW to ACEN’s growing renewables capacity. This signifies a notable milestone as the company explores and integrates new technologies into 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.
Following an invitation to develop floating solar renewable energy projects on Laguna Lake, ACEN, through its subsidiaries, received Notices of Award from LLDA in July. Solar Energy Operating Contracts (SEOCs) for eight blocks of hundred hectares each in the southern and eastern sections of the lake have been applied with the Department of Energy.
ACEN’s bold steps in the renewable energy sector, including its venture into the floating solar market, help solidify its leadership position in the region. The company is on track with its portfolio of greenfield renewable energy projects aimed at reaching 20 GW of renewables by 2030.