AC Energy expects to hit 2,000 MW target early

AC Energy, the power business of Ayala Corp., expects to reach 2,000 megawatts (MW) of attributable capacity one year ahead of the 2020 target as it ramps up its renewable energy (RE) portfolio here and abroad.

AC Energy chief executive officer Eric T. Francia said the group is working to raise its renewable energy capacity to close the gap with the thermal portfolio.

“Over the next three years, by 2020, we are hoping that our renewable energy will come close to our thermal already in terms of peak megawatts,” he said.

“Hopefully, by next year we’ll hit the 2,000 MW which is one year ahead of the target,” Francia said.

To meet this target, the company is pursuing renewable energy developments overseas.

“We are not stopping the growth, we are looking into Indonesia and Vietnam, not only in renewables but also thermal,” Francia said.

Ayala Corp. has split its energy business into two wholly-owned subsidiaries – AC Renewables Inc. and ACE Thermal Inc. – for greater flexibility in expanding its project portfolios.

It currently has 1,300 MW of thermal generating capacity and 300 MW for renewable energy.

Its conventional power projects include the 668-MW GN Power Dinginin Ltd. Co. coal plant in Bataan, the 604MW GNPower Mariveles, the 2x135-MW coal-fired power plant in Calaca, Batangas under South Luzon Thermal Energy Corp. and the 4x135MW coal-fired power plant in Kauswagan, Lanao del Norte in Mindanao through GN Power Kauswagan Ltd. Co.

Under its renewable energy portfolio are the 52-MW Northwind Power Development Corp. in Bangui, Ilocos Norte; the 81-MW wind farm in Pagudpud, Ilocos Norte through its affiliate NLREC and the 18-MW solar plant in Negros Oriental, a joint undertaking with Bronzeoak Clean Energy Inc.

It also includes the 75-MW Sidrap wind farm, its first wind project in Sulawesi, Indonesia in partnership with UPC Renewables Indonesia Ltd.

The company also operates 637 MW of steam and power from the Darajat and Salak geothermal fields in West Java, through joint venture firm Star Energy Geothermal (SalakDarajat) B.V. with Star Energy Group Holdings Pte. Ltd., Star Energy Geothermal Pte. Ltd. and Electricity Generating Public Co. Ltd.

Adding to this is AC Energy’s partnership with BIM Group of Vietnam to jointly develop over 300 MW of solar power projects in Ninh Thuan province. Initially, the partners are putting up 30 MW of solar farm in the said province and another 300 MW is being lined up.