Friday, May 20, 2016

AC Energy on track for 1,000-Megawatt target

AYALA-controlled AC Energy Holdings, Inc. is set to meet its installation target of 1,000 megawatts (MW) as it is scheduled to break ground with the expansion of its Bataan coal-fired plant within the year.

 “We’ve participated in about 1,500-megawatt (MW) worth of capacity,” John Eric T. Francia, president and chief executive officer of AC Energy, told reporters on Thursday on the sidelines of an industry conference at SMX Conference Center in Pasay City.

He said of the total, about 650 MW is attributable to the company, which has developed or in the process of building power plants in partnership with other entities.

“If you include the Bataan unit one expansion, which we will break ground on soon, it will be 1,000-MW attributable capacity, which has been our target,” he said.

The Bataan plant is under GNPower Mariveles Coal Plant Ltd., a joint venture of AC Energy, Sithe Global Power LLC and Power Partners Ltd. Co. The power plant, which started commercial operations in February 2014, has since been providing baseload power to several distribution utilities. AC Energy has a 20% stake in the joint venture.

AC Energy secured financing for the first phase of the $1-billion plant expansion in December.

Mr. Francia declined to disclose how much of the venture would be financed through bank loans but said the traditional mix would be 70% -- 30% in favor of borrowings. The rest will be internally generated funds.

Aside from the Bataan project, AC Energy has a 36% stake in an 81-MW wind farm in Pagudpud, Ilocos Norte; a 50% stake in a 52-MW wind farm in Bangui, Ilocos Norte; a 50% stake in two 135-MW coal-fired power plant in Calaca, Batangas; and an 80% in four 150-MW coal combustion plant in Kauswagan, Lanao Del Norte. -- Victor V. Saulon

No comments:

Post a Comment