• The acquisition of the stake in Freya Renewables by ACCIONA Energía brings an additional portfolio of 880MW under development.

ACCIONA, a global leader in sustainable infrastructure and renewable energy, is expanding its presence in the Philippines through the acquisition by ACCIONA Energía of an 80 % stake in Freya Renewables, a consulting firm for renewable development. On a visit to the country, José Manuel Entrecanales, chairman & CEO of ACCIONA, also committed to expanding the activities of acciona.org, the company’s foundation, providing access to electricity through solar home systems to Palawan's underserved communities, as part of its Light at Home program.

The acquisition of the stake in Freya Renewables by ACCIONA Energía brings an additional portfolio of 880MW under development.

During his trip, Mr. Entrecanales — who also held meetings with secretary Frederick Go, special assistant to the president for investment and economic affairs, and Cebu Governor Gwendolyn Garcia, among others — also confirmed that ACCIONA Energía will soon construct, operate, and maintain a 150MW solar power plant in Daanbantayan, the country’s first public-private-partnership in solar power generation.

The renewable energy company recently announced the development of another 156MW wind farm in the municipality of Pantabangan, 150 kilometres north of Manila and has started construction of the 100MW Kalayaan 2 wind farm in Laguna Province.

The government in The Philippines is promoting the development of renewables to reduce its dependence from imported fossil fuels, and it has set targets to increase the share of renewable energy in the energy mix to 35 % by 2030 and 50 % by 2040.



Mr. Entrecanales, also visited El Nido in Palawan to witness firsthand the impact of the acciona.org foundation initiatives in the country.

Through collaborations with the Ayala Foundation and co-financing from the Spanish Agency for International Cooperation and Development (AECID), ACCIONA has already benefitted 600 households with its clean energy program for off-grid and underserved communities. It now plans to extend support to a further 600 homes, along with 20 community centers and businesses. Looking ahead, ACCIONA is set to expand its reach to rural communities across Palawan, impacting over 1,500 households by 2025.

In addition to its local initiatives, acciona.org is exploring collaborations with organizations such as UNICEF and the Green Climate Fund to further amplify its impact. Ongoing discussions with stakeholders highlight the organization's commitment to creating lasting change beyond Palawan, to other areas in the Philippines.

ACCIONA already has a significant presence in The Philippines, where it has been operating through its Water and Construction business since 2016 and has developed flagship projects such as the Cebu Cordova Link Expressway (CCLEX), and the Putatan II and Laguna Lake drinking water treatment plants.

The acciona.org foundation began working with underserved communities in the country in 2021, helping areas which had neither access to basic electricity service nor any expectation of connection to the conventional electricity grid in the short term.