Acen Corporation, through its subsidiaries signed a Renewable Energy Contract Area Utilization (RECAU) agreement with the Laguna Lake Development Authority (LLDA) to lease 800 hectares of Renewable Energy Areas (REAs) in Laguna, Philippines. This agreement marks a pivotal step toward the development of a groundbreaking large-scale floating solar project, underscoring ACEN's commitment to incorporating emerging technologies into its
renewable energy portfolio. The project will be situated on Laguna Lake, the Philippines' larger freshwater lake, and could contribute a substantial ~1,000 MW to ACEN's growing renewables capacity. This signifies a notable milestone as the company explores and integrates new technologies into its renewable energy portfolio. Following an invitation to develop floating solar renewable energy projects on Laguna Lake, ACEN, through its subsidiaries, received Notices of Award from LLDA in July. Solar Energy Operating Contracts (SEOCs) for eight blocks of hundred hectares each in the southern and
eastern sections of the lake have been applied with the Department of Energy. ACEN's bold steps in the renewable energy sector, including its venture into the floating solar market, help solidify its leadership position in the region. The company is on track with its portfolio of greenfield renewable energy projects aimed at reaching 20 GW of renewables by 2030.