Seeing an imminent shortage in power supply in the Province of Cebu in the coming years, the Province of Cebu entered into a memorandum of understanding with Spain-based Acciona Energia Global, S.L. and Makati-based Freya Renewables Inc. on Thursday, Oct. 12, 2023.
The MOU covers the construction of a 150-megawatt solar power plant in Daanbantayan, Cebu.
Cebu Gov. Gwendolyn Garcia said the solar power plant to be constructed in the northern part of Cebu will be the first of its kind in the entire Philippines.
Garcia said the proponents are from the largest power supplier in Europe, and they are now partnering with the Province of Cebu.
She said the partnership is mutually beneficial because while Acciona will bring in cheaper renewable energy, it also acknowledged the need for the Province’s assistance in overcoming challenges along the way.
In the MOU, construction of the proposed solar power plant will be at no cost to the Province and once implemented, will provide income to the Province from a percentage share of Acciona-Freya’s revenues from electricity sales.
“In the next year and a half, longest two, we will be able to provide cheaper energy for the province of Cebu, enticing more investments and more importantly helping those who are in the lower ranks of the economic pie,” the governor said.
She said the Province is ready to provide assistance, whether it involves engaging with various communities, collaborating with distribution utilities, or working with the Department of Energy.
As of the MOU signing, AEG and Freya had already been granted the original proponent status through EEC Resolution 2023-0902. | with reports from Carlo Lorenciana
