August 21, 2020 Read More →

AC Energy to build two 75MW solar projects in Philippines

Renewables Now:

AC Energy Philippines has announced it developing two new solar projects at home for a total of 150 MW of capacity.

The energy platform, part of Philippine business group Ayala Corp (PSE:AC), intends to [spend] PHP 6.2 billion (USD 127.3m/EUR 107.6m) to build two 75-MW plants in the region of Central Luzon.

The first project will be developed through a 50/50 joint venture with Citicore Renewable Energy Corporation. The solar park, to be constructed at a cost of up to PHP 3.3 billion, will stretch across the municipalities of Arayat and Mexico, Pampanga province. ACEN expects to have the plant in operation in the fourth quarter of 2021.

The second 75-MW project will be wholly-owned by the company and will need an investment of up to PHP 2.9 billion. The site is located in Palauig, Zambales province, in close proximity of the 60-MW GigaSol Palauig solar project, which ACEN is currently building. The project completion is expected in the first quarter of 2022.

The new projects will boost ACEN’s total energy portfolio under construction to 480 MW — divided between 330 MW of solar and 150 MW of peaking diesel plants, the company said. ACEN has a goal to reach 5,000 MW of renewables capacity by 2025 and become the largest listed renewable energy platform in Southeast Asia, it added.

[Sladjana Djunisic]

More: AC Energy announces 75-MW solar duo in Philippines

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