The Ayala Corp. holding company is planning to initiate ventures with up to 1,000 Megawatts (MW) of power in this year, the parent company said.
The plans are consistent with Ayale Corp.’s objective to become the largest clean energy network in South East Asia, AC Energy and Infrastructure Corp.’s (ACEIC) team.
A regulatory document on Wednesday stated that “500 MW of total power in the Philippines and the remaining 500 MW in Vietnam, Australia, and India would be deployed over the next year to two years” from the proposed ACEIC ventures.
“ACEIC expects also to add and enhance its clean energy portfolio by adding advanced energy storage technology to its capability with peak plants,” Ayala Corp. says in its Annual Study.
ACEIC stated that it expects to extend its auxiliary sector and trading activities in the Philippines to increase its power portfolio.
The AC Energy Corp. (ACEN), which aims to become the largest clean energy network in the country, with a net attributable potential goal of 5,000 MW by 2025, has a majority stake in ACEIC.
As at 8 March, ACEN had a net asset of 966 MW, nearly 50% or 46% from the renewable energy supply in the Philippines.
ACEN has entered into an agreement last month for the sale to its partner, Power Partners Ltd. Co. and other associate companies of its interests in Mindanao’s largest charcoal project. The transaction is consistent with the commitment of ACEN in re-balancing its portfolio and in four years to reach its renewable energy capability goals.