Acciona Energia buys 80% stake in Philippine firm Freya Renewables

Spain’s Acciona Energia (BME:ANE) has acquired an 80% stake in Freya Renewables, a Philippine renewable energy consultancy, to expand its presence in the Philippines.

The acquisition has given Acciona Energia access to an additional portfolio of 880 MW of projects under development in the country where its parent group, Acciona SA (BME:ANA), is already well established, the Spanish renewables pure-player said on Saturday.

Financial details were not disclosed.

Acciona Energia and Freya Renewables are already partners on several projects in the Philippines, including a wind farm development in the municipality of Pantabangan and a 150-MW solar project in Daanbantayan on the Cebu island. The solar scheme is a public-private partnership between Acciona Energia, Freya Renewables and the provincial government of Cebu.

The construction of the Daanbantayan solar farm will begin shortly, Acciona Energia said.

The company’s Philippine portfolio also includes the 100-MW Kalayaan 2 wind project, which is currently under construction in Laguna Province.

Choose your newsletter by Renewables Now. Join for free!