AC Energy mulls possibility of more renewable energy projects

By Danessa Rivera (The Philippine Star) | Updated May 23, 2016 - 12:00am

http://www.philstar.com/business/2016/05/23/1585868/ac-energy-mulls-possibility-more-renewable-energy-projects

MANILA, Philippines – AC Energy Holdings Inc., the power arm of the Ayala Group, is considering to put up more renewable energy projects in the country after completing its wind and solar projects.

AC Energy president and CEO John Eric Francia said the company has room for expansion in its existing wind and solar projects.

There is still a potential for more wind capacity in North Luzon Renewable Energy Corp. (NLREC), he said.

“We still have potential in the Ilocos area. I think we have room for expansion for another 50 to 60 megawatts (MW) in Caparispisan in Pagudpud,” Francia said.

NLREC, which owns and operates the 81-MW wind farm in Pagudpud, Ilocos Norte, is a unit ofLuzon Wind Energy Holdings, where AC Energy owns 36 percent while the rest is held by Mitsubishi Corp. subsidiary DGA NLREC B.V.

Francia said the company is also looking at other locations for its wind projects.

“We are looking at other areas for wind in the north and south, particularly in the Visayas,” he said, declining to cite specific areas.

For solar expansion, the company is waiting for the announcement of the third round of feed-in tariff (FIT).

“We have room for expansion in our solar plant. But we will wait until there is guidance on the FIT 3 for solar,” Francia said.

AC Energy, with its partner Bronzeoak Clean Energy Inc., recently completed an 18-MW solar farm in Negros Oriental, which is eyed for FIT incentives in the second round for solar.

Solar developers were given until March this year to complete and produce power from their projects to be eligible to receive the new P8.69 per kilowatt-hour (kwh) FIT rate in the second round of FIT for solar.

AC Energy is also re-exploring opportunities its shelved solar project in Mindanao, especially now that the region is becoming bright spot for investments, Francia said.

“Remember before, our first solar project was supposed to be in Mindanao. We put that on the back burner at that point, but we could potentially revisit that,” he said.