Acciona Energia inks MoU to put up 150 MW of solar in the Philippines

Spanish renewables company Acciona Energia (BME:ANE) is set to build a 150-MW solar photovoltaic farm in the Cebu Island in the Philippines, according to an announcement it made on Friday.

Acciona Energia said that it has signed a memorandum of understanding (MoU) with the provincial government of Cebu and Filipino consultancy Freya Renewables to promote the development of the project.

The solar farm will be located in the municipality of Daanbantayan, at the northern tip of the Cebu Island. Acciona Energia will develop, build and operate the plant in collaboration with Freya Renewables, the brief announcement said.

"In the next year and a half, maximum two years, we will be able to provide more competitive energy to the province of Cebu, attracting more investment and, more importantly, helping the economically disadvantaged," Cebu Province Governor Gwendolyn Garcia was quoted as saying.