Freya Renewables Inc. Attends DOE Consultative Meeting on Revised Omnibus RE Guidelines

Manila, Philippines | August 8, 2024 –Freya Renewables Inc. successfully participated in a significant F2F consultative meeting organized by the Department of Energy (DOE). The meeting aimed to discuss the newly revised Omnibus Guidelines for Renewable Energy (RE) and provide a status report on our ongoing wind energy projects.

The DOE recently issued Department Circular No. DC2024-06-0018, which outlines the revised guidelines for awarding and administering RE projects. These updated guidelines are designed to better address the needs of RE developers, ensuring timely and cost-effective project execution. The DOE’s goal is to achieve a 35% RE share in the power generation mix by 2032 and 50% by 2040.

To foster effective coordination and collaboration, the DOE requested a status report on our wind energy projects, which was discussed in detail at the consultative meeting. Freya Renewables Inc. tackled its list of awarded wind energy service contracts, which include the Pantabangan Wind Power Project in Pantabangan, Nueva Ecija (WESC No. 2023-10-237); the Camiguin Onshore Wind Power Project in Guinsiliban, Sagay, and Mahinog, Camiguin (WESC No. 2023-06-298); and the Highlands Guimaras Wind Project in Sibunag, San Lorenzo, and Jordan, Guimaras (WESC No. 2023-06-299).

This session provided an excellent opportunity for us to discuss any challenges and share our progress with DOE representatives. We were pleased to contribute to the discussion and reinforce our commitment to advancing renewable energy initiatives in the Philippines.

We extend our gratitude to the Department of Energy for their valuable guidance, continuous patience, and support to us RE developers. Their assistance has been instrumental in helping us implement and adhere to the necessary policies. Our team remains dedicated to fulfilling our obligations under our contracts and utilizing the provided remedies to overcome any challenges.