July 20, 2020 Read More →

AC Energy to develop its first solar project in India


Ayala Corp’s AC Energy said Monday it would develop a 140 MW solar plant in India, its first major investment in the country.

UPC-AC Energy Solar, its joint venture with UPC Solar Asia Pacific is set to develop Sitara Solar which would boost its total renewable capacity to 1,200 MW, the company said in a statement.

The $68 million (P3.3 billion) facility in Rajasthan is expected to start power generation in the first quarter of 2021, AC Energy said.

“India is one of the world’s largest and fastest growing markets for renewable energy. We look forward to participating in this market as we continue to expand around the region,” AC Energy president and CEO Eric Francia said.

AC Energy earlier said it was also building Vietnam’s biggest wind farm.

The company aims to reach 5,000 MW of renewable capacity by 2025.

More: Ayala’s AC Energy to develop solar farm in India

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