By Alena Mae S. Flores | Posted on Sep. 02, 2013 at 12:02am
Ayala Corp. expects to expand its power generation business to cover 1,000 megawatts by end of 2014, a company executive said over the weekend.
“By the end of next year, we have enough projects to reach 1,000 megawatts,” Ayala Corp. managing director John Eric Francia told reporters. Francia is also the president of AC Energy Holdings Inc., the power unit of the conglomerate.
Francia said AC Energy’s current power generation portfolio consisted of 600 MW to 700 MW and would increase by another 400 MW by next year.
“The goal is to get to 1,000 MW of additional capacity. With GN power we’re already there. Over time, I think we can get to the 1,000-MW net equity. There’s still scope to add some more. Right now, it’s 600 to 700 MW,” he said.
AC Energy has a 20-percent stake in GNPower Mariveles Coal Plant Ltd., project proponent of the 600-MW coal-fired power plant in Bataan. Ayala and GN Power are also developing a 405-MW coal project in Kauswagan, Lanao del Norte.
Other Ayala projects include the 33-MW Bangui Bay wind farm of Northwind Power Development Corp. in Ilocos Norte, where AC Energy holds a 50-percent stake and a 64-percent interest in an 81-MW wind farm also in Ilocos Norte in partnership with North Luzon UPC Asia Corp. source
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