In two consecutive events, the British Embassy in the Philippines celebrated the United Kingdom's commitment to promoting sustainable energy solutions in the country and supporting its energy transition.
One of the joint energy initiatives was the investment of 600 million dollars by the UK-based firm Actis in the Solar Terra project, located in Nueva Ecija, which will become the largest solar energy project in the Philippines.
The company celebrated the groundbreaking ceremony for the project, which will be developed by Solar Philippines New Energy Corporation.
The Terra Solar project will provide affordable, reliable, and sustainable energy to millions of Filipinos, further strengthening the UK’s role as a key partner in the Philippines' renewable energy transition.
Another initiative celebrated was the partnership between Citicore Renewable Energy Corporation and Actis to develop four new wind farms in Luzon and the Visayas, with a total capacity of 380 MW.
According to government sources, the alliance, supported by a capital investment of 150 million dollars, marks a significant step forward in expanding the Philippines’ renewable energy capacity.
The projects, which secured power purchase agreements through the Department of Energy’s Green Energy Auction Program (GEAP), exemplify the potential of partnerships to drive clean energy initiatives.
The Embassy also celebrated Citicore's achievement in raising 12 million dollars in investments from the UK through its initial public offering (IPO), further solidifying the UK's support for the Philippines' clean energy ambitions.
Laure Beaufils, the British Ambassador to the Philippines and Palau, stated, “These investments reflect our shared vision of a sustainable future and underscore the strong ties between our two nations. Projects like these not only provide clean energy to millions of people but also create opportunities for innovation and progress in the fight against climate change.”
Comentarios
Sé el primero en comentar...