Posted on July 23, 2015 10:12:00 PM
AC Energy Holdings, Inc. of the Ayala group plans to extend its renewable energy projects beyond wind farms, the company’s chief executive officer said.
Hydropower assets that the government plans to privatize are attractive prospects, AC Energy CEO John Eric T. Francia told reporters.
The company currently runs the 33-megawatt (MW) Bangui wind farm in Ilocos, Norte -- which it plans to expand by another 19 MW.
Through North Luzon Renewable Energy Corp., the company also owns an 81-MW wind farm in Pagudpud, Ilocos Norte.
AC Energy also owns coal projects, but the scope of its renewable energy venture is so far limited to wind farms.
“It’s more to diversify. We don’t have deep presence in hydro yet and it’s renewable,” Mr. Francia said on the sidelines of a forum organized by Ayala and the University of the Philippines - School of Economics.
“It’s also an asset and not an IPPA (independent power producer administrator),” Mr. Francia said.
The official did not identify the hydropower assets it is targeting, but in the privatization pipeline of the Power Sector Assets and Liabilities Management Corp. are the Caliraya-Botocan-Kalayaan and the Agus-Pulangui hydropower assets.
AC Energy has an existing partnership with Sta. Clara Power Corp. for the development of an 11-megawatt (MW) hydropower plant in Ifugao.
It will take some time before the company could decide to foray into solar energy, Mr. Francia said.
“We continue to study the prospects. Our aspiration is to get to a stage where solar becomes very competitive. That’s in the medium to long-term for us instead of imminent,” Mr. Francia said.
“Ayala is prudent in building power plants because we are really being sensitive to the market dynamics.”
Over the past three years, the Ayala-led power firm allotted an equity investment of around $500 million to develop various power generating projects.
Shares of Ayala ended yesterday’s trading at P777 each, down P4 or 0.51% from P781 on Wednesday. -- Claire-Ann Marie C. Feliciano source
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