Danessa Rivera (The Philippine Star)
- May 7, 2019 - 12:00am
MANILA, Philippines — AC Energy
Inc., the energy platform of Ayala Corp., expands its renewable energy
footprint in Vietnam with the construction of a 170-megawatt (MW) wind project
with its partner.
In a disclosure to the Philippine
Stock Exchange yesterday, AC Energy said it signed a shareholders’ agreement
with The Blue Circle to jointly construct, own and operate the Mui Ne Wind Farm
located at the Binh Thuan province, southeastern coast of Vietnam.
The Mui Ne Wind Farm, which has a
potential capacity up to 170 MW, is AC Energy’s first wind project in Vietnam.
AC Energy accounts for over 62
percent of the economic ownership including its 50 percent direct voting stake.
“Mui Ne project will be AC Energy’s
first wind power project in Vietnam. AC Energy is very keen to participate in
the fast-growing Vietnam power sector, with pioneering investments in renewable
energy,” AC Energy International chief operating officer Patrice Clausse said.
“We are delighted to partner with
The Blue Circle, and this strategic partnership builds on our combined
expertise, strong financing capabilities, and robust development pipeline,” he
said.
Construction of the 40-MW first
phase will commence immediately with an estimated cost of $92 million. This
will be financed by debt and equity.
The first phase is expected to be
completed in the first half of 2020, in time for the new wind feed-in-tariff
deadline of November 2021.
AC Energy and TBC awarded Vestas the
supply and installation contract for 10 V150-4.2 MW wind turbines, as well as a
10-year AOM5000 energy-based service agreement.
The Vestas V150-4.2 MW wind turbine
is considered as one of the highest producing turbines in the industry and is
thus expected to deliver a competitive cost of energy for the project.
In November last year, AC Energy
through its subsidiary AC Energy International Holdings Pte. Ltd,. acquired a
25 percent ownership of TBC, as well as co-investment rights in TBC’s projects.
AC Energy and TBC will jointly
develop, construct, own and operate TBC’s pipeline of around 2,000 MW of
renewable energy projects across Southeast Asia, including 700 MW in Vietnam.
TBC developed and constructed one of
the first wind farms in Vietnam, Dam Nai JSC, while AC Energy owns and operates
the first wind farm in Southeast Asia, North Wind Power.
Apart from the wind project, AC
Energy also partnered with AMI Renewables Energy Joint Stock Co. to build solar
farms totaling 80 MW in the provinces of Khanh Hoa and Dak Lak, and with the
BIM Group of Vietnam to jointly develop over 300 MW of solar power projects in
Ninh Thuan province.
No comments:
Post a Comment