AC Energy Holdings Inc. is looking to double their contributions to the power sector to about P80 billion by expanding existing assets, acquisitions or partnerships, and greenfield projects to reach a 2,000 MW portfolio target by 2020.
The company has a three-pillar plan that will deliver an additional 1,000 MW for the next four years. One of those is expanding the capacity of its existing platforms, AC Energy president and CEO Eric Francia said.
“The most natural for us is to expand all our platforms,” he said, adding that an abundant number of AC Energy project can be expanded.
The expansions may lead to an additional 500 MW, he added.
The Ayala group has committed around P40 billion in AC Energy. The amount will be doubled to meet the 2,000 MW target, Francia added.
The company is also eyeing on possible acquisitions of and partnerships on renewable energy or coal projects in and out of the country.
“We will continue to look for acquisitions, partnerships. The only difference is we will not only look in our shores, but regionally,” Francia said. “We will start looking at Indonesia. We’re also interested in looking more broadly in other parts of Southeast Asia, like Vietnam and Myanmar.”
The company said that they have their first venture in Indonesia, a 100 MW wind power project.
“We have an international partner, we also have a local partner. So it’s a three-way partnership with AC Energy owning 75 percent,” Francia said.
AC Energy currently has a total attributable capacity of 1,088 MW with the start of the 668 – MW GN power Dinginin Ltd. Co. coal plant construction in Bataan.
The company also have stakes in the 604 MW GNPower Mariveles, the 2×135 MW coal – fired power plant in Calaca, Batangas through South Luzon Thermal Energy Corp., and the 4×135 MW coal – fired power plant in Kauswagan, Lanao del Norte under GN Power Kauswagan Ltd. Co.
Meanwhile, AC’s renewable energy portfolio include the 52 MW Northwind Power Development Corp in Bangui, Ilocos Norte and the 81 MW wind farm in Pagudpud, Ilocos Norte through Norht Luzon Renewable Energy Corp. The company also has the 18n MW Monte Solar Energy Inc. in Negros Occidental.