Philippine company ACEN is all set to develop around 1GW of floating solar plant capacity in the country.
The company has already outlined plans for a solar plant to be located on Laguna Lake. This lake is known as the largest freshwater lake in the Philippines.
For the project, ACEN has inked a Renewable Energy Contract Area Utilization agreement with the Laguna Lake Development Authority to lease 800 hectares of Renewable Energy Areas.
The project is expected to contribute a substantial 1,000MW to the company’s renewable energy portfolio. This large-scale floating solar project will be incorporating emerging technologies.
Eric Francia, ACEN’s president and CEO, was quoted in a statement, “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.”
According to ACEN, its venture into the floating solar market will “help solidify its leadership position in the region as it aims at reaching 20GW of renewables by 2030.”
