Local renewable energy companies have signed Renewable Energy Contract Area Utilization (RECAU) agreements with the Laguna Lake Development Authority (LLDA) yesterday to lease areas for the operation of floating solar projects.
ACEN Corp. through its subsidiaries have signed for 800 hectares (ha) which could translate to around 1,000 megawatts (MW) of capacity.
“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,” said Eric Francia, ACEN president and chief executive officer, in a statement.
In a separate interview at the signing event in Makati City, Francia said the project is in pre-development stage, mainly permitting processes.
“We have to set the right economics. We still have a lot of work to do ahead of us. We have to talk to suppliers because this is the first time we’ll be doing floating solar, obviously there will be some differences compared to ground-mounted solar,” Francia said.
ACEN said floating solar projects need floaters and wave breakers to make the facility resilient from extreme weather conditions.
He did not disclose the project cost.
SunAsia Energy Inc. and its partner, Blueleaf Energy have signed for 1,000 ha. of RECAU with the LLDA.
Tetchi Cruz-Capellan, chief executive officer of Sun Asia Energy, said in an interview yesterday the partnership eyes up to 1,300 MW for the project which costs $1.2 billion.
Capellan said commercial operations may be by late 2025 or early 2026.
Senando Santiago, LLDA general manager, said the remaining 200 ha of the 2,000 ha of RECAU placed in a bidding have been secured by Singapore-based firm Vena Energy but which is yet officially signed with the agency.
