By Danessa Rivera (The
Philippine Star) | Updated October 20, 2016 - 12:00am
MANILA, Philippines – AC Energy
Holdings Inc. is preparing to double its commitment in the power sector to
nearly P80 billion through expansion of existing assets, acquisitions or
partnerships, and greenfield projects here and abroad to reach its target
portfolio of 2,000 megawatts (MW) by 2020.
By then, AC Energy hopes to become a
major contributor to its parent firm Ayala Corp., its top official said yesterday.
The company has laid down three
pillars to deliver an additional 1,000 MW in the next four years and part of
that plan is expanding the capacity of its existing platforms, AC Energy
president and CEO Eric Francia said in a media roundtable yesterday.
“The most natural for us is to
expand all our platforms,” he said, noting almost all power plants under AC
Energy’s umbrella have expansion potential.
By expanding existing power
projects, the company has the potential to add 500 MW, Francia said.
So far, the Ayala group has
committed close to P40 billion in AC Energy, which will be doubled to nearly
P80 billion to meet the 2,000-MW target portfolio, the company official said.
Currently, AC Energy has a total
attributable capacity of 1,088 MW with the start of construction for the 668-MW
GN Power Dinginin Ltd. Co. coal plant in Bataan.
It also has stakes in the 604-MW
GNPower Mariveles, the 2x135-MW coal-fired power plant in Calaca, Batangas
under South Luzon Thermal Energy Corp. and the 4x135- MW coal-fired power plant
in Kauswagan, Lanao del Norte in Mindanao through GN Power Kauswagan Ltd. Co.
Under renewables, AC Energy’s
portfolio includes the 52-MW Northwind Power Development Corp. in Bangui,
Ilocos Norte and the 81-MW wind farm in Pagudpud, Ilocos Norte through its
affiliate North Luzon Renewable Energy Corp. and the 18-MW Monte Solar Energy
Inc. (Montesol) plant in Negros Oriental—a joint undertaking with Bronzeoak
Clean Energy Inc.
AC Energy will also be on the
lookout for possible acquisitions of and partnerships for renewable or coal
projects within and outside the country, the company official said.
“Second is we will continue to look
for acquisitions, partnerships. The only difference is we will not only look in
our shores, but regionally,” Francia said. “We will start looking at Indonesia.
We’re also interested in looking more broadly in other parts of Southeast Asia,
like Vietnam and Myanmar.”
The company official bared the
company’s first venture in Indonesia, which is a wind project with less than
100 MW in capacity that will breakground in the next few months.
“We have an international partner,
we also have a local partner. So it’s a three-way partnership with AC Energy
owning 75 percent,” Francia said.
To further expand its portfolio, AC
Energy will also venture into developing its own greenfield power projects.
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