PH grants ‘green lane’ status to Acciona Energia for 150 MW solar project

This is being developed in Cebu.

Acciona Energia has secured the “green lane” status from the Philippines’ Board of Investments for the company’s 150 megawatt (MW) Daanbantayan Photovoltaic Project currently under development in the island of Cebu.

In a statement, the company noted that the status is granted to investments that are considered strategic for the country, expediting permitting processes, and accelerating and streamlining the development and construction of the project.

The 150-MW project is located in the municipality of Daanbantayan, at the northern tip of the Island of Cebu, and involves an investment of around $130m. Its initial power output will be distributed through private power purchase agreements with CEBECO II, the electricity cooperative operating in the province of Cebu, and any excess energy will be sold at the annual green auction hosted by the Department of Energy.

Acciona Energia earlier announced the acquisition of an 80% stake in Philippine firm Freya Renewables to expand its presence in the country.

Aside from the Cebu project, the company is also developing a 156 MW wind farm in the municipality of Pantabangan, and has started construction of the 100 MW Kalayaan 2 wind farm in Laguna.