ACEN expands solar capacity

 

Danessa Rivera - The Philippine Star August 27, 2021 | 12:00am

https://www.philstar.com/business/2021/08/27/2122843/acen-expands-solar-capacity

 

MANILA, Philippines — AC Energy Corp. (ACEN) is expanding its solar capacity with a partnership with the Singapore unit of German ib vogt.

In a disclosure to the Philippine Stock Exchange yesterday, ACEN said its executive committee cleared the company’s plan to enter into a joint venture with ib vogt Singapore Pte Ltd. for the development of solar projects in the Philippines.

With the approval, the Ayala power firm is looking to develop an initial of 300 MW-dc with ib vogt Singapore.

ib vogt Singapore is an affiliate of ib vogt GmbH, a German company focused on developing and delivering high-quality large-scale turnkey photovoltaic plants worldwide.

Meanwhile, the executive committee also approved the setting of capital expenditure budgets for ACEN’s proposed 288-MW solar project in Buguey and Lal-lo, Cagayan and for the proposed 275-MW expansion of the Gigasol Palauig solar project in Zambales.

The first phase of the Gigasol Palauig solar farm, with a capacity of 63 MW, commenced operations last April 27.

ACEN’s executive committee also approved the appointment of John Philip Orbeta as the company’s chief administrative officer and chief human resources officer effective Oct. 1.

He will replace Peter Buenaseda, who resigned effective Sept. 30.

With the reassignment, Orbeta will cease to be the CHRO of Ayala Corp. as of said date but will remain as one of its managing directors.

ACEN continues to invest in renewables and aggressively expand its presence in the country and across the region to reach its goal of 5,000 MW of renewables capacity by 2025.

In scaling up its renewable energy (RE) portfolio, solar is one of the technologies ACEN is heavily focused locally and overseas as it eyes to play a leading role in energy transition and green-led recovery.

Of its robust 12,000-MW RE pipeline, majority are solar and wind projects. The largest chunk, or around 5,200 MW, is in Australia, followed by the Philippines with 3,400 MW, Vietnam with 2,400 MW and in India and other Asia-Pacific countries with 900 MW.

ACEN, the energy platform of Ayala Corp., is one of the fastest growing energy companies with over $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region.

The company has over 2,600 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia. The company’s renewable share of capacity is at 80 percent, among the highest in the region.