- AC Energy Philippines will build 2 projects of 150 MW cumulative capacity in the Philippines
- Both projects will have 75 MW capacity each and will be built for an investment of PHP 6.7 billion
- One of the projects will be developed in 50:50 partnership with Citicore Renewable Energy Corporation
An Ayala Corporation entity in the Philippines, AC Energy Philippines (ACEN) will be building 2 solar power projects with a combined capacity of 150 MW in Central Luzon. Both projects will have an individual capacity of 75 MW each.
The company said 75 MW capacity will be located in Arayat and Mexico in Pampanga for a total cost of PHP 3.3 billion ($68 million). It will develop the project in a 50:50 joint venture with Citicore Renewable Energy Corporation. The partners plan to bring it online in Q4/2021.
The other 75 MW will come online in Palauig in Zambales in Q1/2022 for a total investment of PHP 2.9 billion ($59.59 million). This project will be located closer to the company’s own 60 MW GigaSol Palauig solar plant under construction it announced earlier this year.
GigaSol project is one among the 183 MW capacity EPC company ERS Energy is setting up for ACEN in the Philippines. In May 2020, ERS appointed Seraphim as the module supplier for the entire capacity (see Seraphim Shingle Modules For Philippines Project).
Altogether the 150 MW capacity will take ACEN’s ‘under construction’ capacity in Philippines to 480 MW, comprising 330 MW of solar and 150 MW of peaking diesel plants. The company has an overarching goal of reporting 5 GW of renewables capacity by 2025 in Southeast Asia. Recently, the company expanded into India with its first investment in the country in a 100 MW solar project through a joint venture with UPC Solar (see AC Energy To Invest In 100 MW AC Indian Solar Park).
“While we are facing significant challenges amidst the current crisis, ACEN remains committed to investing in the country and drive renewables expansion,” said ACEN President and CEO, Eric Francia. “We take the long view when investing, and we also recognize that investments are very much needed urgently to help reignite the economy and create jobs. This is the true meaning of sustainable investing.”