By Katrina Gracia Consebido
President Ferdinand R. Marcos Jr. has secured key investments from European firms for the renewable energy and infrastructure sectors.
Among those that pledged to invest in the Philippine renewable energy sector is Acciona, a global group that creates and manages sustainable infrastructure solutions.
This as the country eased the 40% equity cap for firms in renewable energy projects, especially those on solar and offshore wind.
Acciona Chairperson Jose Manuel Entrecanales said they are eyeing Manila as their main hub in the Southeast Asian region, while assuring the establishment of “smart infrastructure that is sustainable, mitigating, adapting, resilient and transformative.”
“To the extent of our possibilities… We are comfortable in your country. We find it welcoming and business-friendly, so we would like to make the Philippines one of our– if not our main hub for Southeast Asia,” Entrecanales said.
Meanwhile, Marcos said the investment is a welcome progress, and that there is a need to “do more in terms of building our renewables.”
“There is this move to renewables, so we have to adjust… We’ll have to increase our capacity for production,” he said.
“These are all relevant to the Philippines, and I hope that I;ll be able to see you there… Your operations in these specific areas,” he added.
Acciona is the principal contractor for the second section of the railway project that will connect Malolos City with Clark International Airport with a contract worth $656 million.
In September last year, Acciona completed the Cebu-Cordova cable-stayed bridge. -ag
