Ayala group taps Chinese firm for solar modules supply

By: Ronnel W. Domingo - 04:16 AM May 16, 2020
https://business.inquirer.net/297441/ayala-group-taps-chinese-firm-for-solar-modules-supply

The Ayala group’s AC Energy Inc. has tapped Chinese supp­lier Jiangsu Seraphim Solar System Co. Ltd. for 183 megawatts (MW) worth of modules to be used in solar farm projects in Laguna and Zambales.

The Jiangsu-based manufacturer said in a statement that while it would provide high-efficiency solar modules, it had signed an agreement with ERS Energy Sdn Bhd for engineering, procurement and services.

Seraphim president Polaris Li said in a statement the projects would enable the company to “maintain a strong position” in the Philippine market.

The solar farms will be u­­sing Seraphim’s monocrystalline 158.75-millimeter half-cell PERC modules, which have lower current and series resistance.

According to Seraphim, the high output of half-cell modules will maximize power generation on a constrained land area, significantly saving costs for large-scale power plants.

“We strive to support the Philippines to meet its renewable energy goals by utilizing our years of experience and leading-edge technology advantages,” Li said.

AC Energy—which is being transformed into an infrastructure holding firm that would take in the Ayala’s water, and transport and logistics businesses—expects to begin within this year operations of several power generation assets with an aggregate capacity of 550 MW.

This total includes the planned 120-MW at the solar farm in Alaminos, Laguna, as well as 60-MW plant in Palauig, Zambales.

On Wednesday, Ayala Corp. reported that AC Energy’s net profits “turned around” in the first quarter of 2020 to P1.96 billion from P2 million a year ago.

This was largely driven by its P1.3-billion preoperating revenue from GNPower Kauswagan and recovery of costs incurred from adjustments in the construction and operations of its power plants.

AC Energy chalked up 1,205 gigawatt-hours of attributable net generation capacity in the first quarter of this year.