Acciona Energia is looking at a portfolio of up to 1 gigawatt of renewable energy projects in the Philippines in the next five to six years with an estimated capital expenditure budget of $1 billion.
Acciona Energia managing director of Southeast Asia Ignacio Domecq said at the sidelines of the Philippine Construction and Infrastructure Club luncheon that a number of RE projects in the Philippines are in the pipeline.
“If we would be able to deliver or to build all this pipeline, that would be ideal. I don’t think that’s possible in our industry building on the pipeline never happens. But I would say that we would be really successful if we managed to build in the next five to six years. Let’s say a number between 700 megawatts and 1 gigawatt. That would be something to consider successful by our company,” he said.
He said among the company’s most advanced project is the 100-MW Kalayaan 2 wind project in Laguna province.
“Yes, the Kalayaan project is in construction. We’re envisaging to connect the project to the grid in December 2026 between June and December 2026,” he said.
The company is also constructing the Daantabayan solar plant in Cebu with a capacity of 176 MW.
“And then we have a big solar family in the world which is in construction already and should be connected also by the same time frame, by the end of 2026,” he said.
He said the other projects are expected to be completed by 2027 and 2028.
Meanwhile, Domecq said the company would finance the rollout of its projects through internal funds. “Our company is big enough to fund this with our balance sheet,” he said.
Domecq said they are also looking at 100-percent ownership of their projects in the Philippines by yearend.
“We have a couple of prints where we have partners, although we are in the process of buying these partners now. So probably by year-end, it will be 100-percent everything hours,” he said.
Acciona, headquartered in Spain, has maintained a strong presence in the Philippines since 2016, primarily through its water and infrastructure divisions, delivering flagship projects such as the Cebu-Cordova Link Expressway (CCLEX) and the Putatan II and Laguna Lake water treatment plants.