Ayalas build P6.2B new solar plants

AC Energy Philippines (ACEN) is accelerating its expansion in the renewable energy sector with two new solar plants worth P6.2 billion under construction in central Luzon.

The two facilities will generate generate up to 150 megawatts and boost ACEN’s total Philippine projects under construction to 480 megawatts comprising of 330 MW of solar and 150 MW of peaking diesel plants.

The first project, a joint venture with CiticoreRenewable Energy Corp., is a solar plant with up to 75 MW capacity located in Arayat and Mexico, Pampanga. Estimated to cost ₱3.3 billion, the facility is expected to come online in the fourth quarter of 2021.

Located in Palauig, Zambales, the second project, costing P2.9 billion, will have a capacity of up to 75 MW. The facility, which is in close proximity to the 60 MW GigaSol Palaguig solar plant, is targeted to be completed in the first quarter of 2022.

.“While we are facing significant challenges amidst the current crisis, ACEN remains committed to investing in the country and drive renewables expansion,” said Eric Francia, ACEN president and CEO.

The company aims to be the largest listed renewables platform in Southeast Asia, with the goal of reaching 5,000 MW of renewables capacity by 2025.

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