The AC Energy Holdings of the Ayala group is eyeing multiple renewable energy projects in Vietnam in the next few years.
The company is currently in talks with potential partners in Vietnam for their strategy, AC Energy president John Eric Francia said in a report by The Standard.
“I believe that Vietnam market is growing double digit and my view there is that it is in need of greater supply. They have no reserve margin with double digit growth, so it is in need of additional investment,” Francia said.
This strategy is part of AC Energy’s attempt to reach 2,000 MW of attributable capacity in 2020 with half of those coming for RE projects.
While the projects are open to all types of energy technologies, the company said they are keenly interested in renewable energy.
Francia said that they are hopeful that a deal will be finalized soon. “We are trying our best,”
Currently, AC Energy has 1,300 MW of capacity where 300 MW of those comes from renewable energy.
The company has recently acquired the Bronzeoak Clean Energy and the San Carlos Clean Energy and is in a development funding arrangement with UPC Asia Pacific Holdings Ltd. and UPC Renewables Asia I Limited for developing power projects in a small island in Indonesia.