UK invests in Philippines’ quest for clean energy

The UK will support a solar energy project and the development of four new wind farms in the country.

UK Flag | Representational image | Commons

New Delhi: The United Kingdom is investing in renewable energy projects in the Philippines, supporting the country’s largest solar energy project and the development of four new wind farms, a press release announced Thursday.

 

The British Embassy in Manila hosted two events to highlight these significant developments in UK-Philippines renewable energy collaboration. The events highlighted the United Kingdom’s commitment to driving sustainable energy solutions and supporting the Philippines’ transition to cleaner power. Just last week, the Embassy held a dinner reception celebrating the partnership between Citicore Renewable Energy Corporation and Actis, a UK-based infrastructure investment company.

Actis, through its Southeast Asia renewable energy platform, has invested $150 million in equity for the development of four new wind farms across Luzon and Visayas, with a combined capacity of 380 megawatts.  This investment is a significant step in expanding the Philippines’ renewable energy capacity. The projects have secured offtake agreements through the Department of Energy’s Green Energy Auction Program (GEAP), demonstrating the effectiveness of partnerships in promoting clean energy initiatives.

His Majesty’s Ambassador to the Philippines, Laure Beaufils, said, “The United Kingdom is proud to be a partner in the Philippines’ renewable energy journey. These investments reflect our shared vision for a sustainable future and underscore the strong ties between our two nations. Projects like these not only provide clean energy to millions but also create opportunities for innovation and progress in the fight against climate change.”

Actis’ commitment to sustainable infrastructure and clean energy in the Philippines was highlighted at the groundbreaking ceremony, the release added