The leading official said that AYALA-LED AC Energy Corp. is looking at a new green energy target for 2030, in which both local and international ventures can share the same, as its goal of 5 GW is set to achieve before the deadline of 2025.

“You will definitely learn about our next objective in the next couple of years. I don’t have any ambitions to do any more to revise our 2025 target,” said AC Energy Chairman and CEO Eric T. Francia in Monday’s media conference.

“We will probably set our sights for 2030, but the right level of renewable energy would still be calibrated,” he said.

In 2030 when questioned of the expected share of clean energy technology at home and abroad, he said he was looking at a portfolio mix between 50 and 50 of Philippine and foreign ventures.

While he couldn’t currently disclose the 2030 goal, he said it was a “signifying number,” because AC Energy anticipates its 5-GW attributable RE ability to be surpassed by 2025.

He said the organization expects to enter the middle of this year, through the financing of its numerous capital raising operations and international exchange prospects.

“We anticipate our Philippines and multinational channel to be in the two and a half gigawatt range[s]. We’re near 1350 megawatts right now (MW). In the foreign sector and in the Philippines, we have around 900 MW, which allows a total of 1350 [MW] renewables in combination,” said Mr.Franza.

Mr. Francia reported that solar and wind energy ventures would take up a major part of the capacity of the industry by 2025.

“I do not have a certain percentage breakdown between the sun and wind, but the lion’s share in our technology mix is what I can tell you, solar and wind,” he added. “With respect to installed wind capacity, Solar is most likely to be bigger.”

Mr. Francia has stressed the value of battery storage to allow clean energy growth.

“I anticipate battery storage to be reasonably efficient in the next 3-5 years—to continue to scal up and grow renewables. No difficult expectations. We have already initiated several battery designs, they are limited in scale. But it will potentially assume a more critical function (battery storage) by 2025,” he adds.

He noticed many battery storage ventures in the market, but most of them were used as auxiliary facilities for the Philippine National Grid Company. It took up to five more years to hold a battery for load shifting, an energy-saving procedure throughout the day that frees it at night.

Mr. Francia also addressed the ventures of AC Energy in Australia and India during the briefing.

“We have already begun to develop the first step of the Australian solar project. (It) is worth around 400 MW of solar — due to us —”he added. “We’ve recently received an auction in India. We have to shut down financially and in India we plan to install a few hundred megawatts more solar power.”

On GNPower Kauswagan Ltd. investment. Company, Mr. Francia said he wanted the sales to close by this quarter financially.

GNPower Kauswagan is the joint venture for a four-unit coal-fired power station, each with an equivalent capacity of 138 MW or an overall total capacity of 552 MW in Kauswagan, Lanao del Norte, under AC Resources, the Philippine Infrastructure Fund Investment Alliance and Power Partners.

AC Energy reported an increase in stock rights of about P5.37 billion last week from 18-22 January.

Ramon S. Monzon, President and Chief Executive Officer of Philippine Stock Exchange, said the money would be mainly used in financing at least four solar plants in Luzon, one wind power plant, and one clean energy lab. During the inventory list ceremony on Friday.

According to Mr. France at his media conference in November, the rights deal is the first of five moves in AC Energy’s $2 million corporate turnaround. Additional moves are: GIC Pte in Singapore. Ltd’s four billion shares private placement by the end of the second quarter; follow-up public bids on a local stock exchange; the injection of Multinational Ayalas’s electricity actives; and the selling of GIC’s AC Energy and Infrastructure Corp. secondary shares.

LEAVE A REPLY

Please enter your comment!
Please enter your name here