AC Energy (ACEN) recently announced that it is partnering with the South Pole Group, a leading project developer and global climate solutions provider that works with private organizations and governments worldwide.
ACEN’s engagement with South Pole is part of parent firm Ayala Corporation’s collaboration with the Zurich, Switzerland-based firm to help its businesses achieve net zero greenhouse gas emissions by 2050.
Ayala’s power arm said that it will, within the next 12 months, together with South Pole will develop a detailed greenhouse gas footprint that includes all relevant Scope 3 emissions from the value chain, which is considered net zero best practice.
AC Energy and South Pole will also assess potential emission reduction activities and strategies to help the firm prioritize and budget for these interventions across its core business units, ensuring practical steps are taken to reduce emissions as quickly as possible.
The partnership also aims to establish interim targets aligned with a science-based 1.5°C pathway across the core business units to ensure ACEN has robust and measurable milestones along its journey to net zero emissions.
“We are aligning ourselves with the global movement for climate action as our way to help secure our country’s future from the threats brought by climate change. We believe that we have the capabilities and collective will to make this happen,” said ACEN Chairman Fernando Zobel De Ayala.
AC Energy recently announced that it aims for an all-renewable energy (RE) portfolio by 2025, in addition of having 5,000 megawatts (MW) in RE assets by then. Relative to this, the firm is embarking on an early retirement program for its 270MW South Luzon Thermal Energy Corporation coal plant in Calaca, Batangas.
“Being at the forefront of the energy transition goes hand in hand with our commitment to Net Zero. We will work closely with the Ayala group and continue to collaborate with our stakeholders as we carry out this important journey,” said ACEN President and CEO Eric Francia.
Francia said last year that ACEN is dropping coal from its portfolio.Since then, it has divested from the GNPower Kauswagan plant in Lanao Del Norte. It also plans to let go of its stakes in the Mariveles and Dinginin plants in Bataan.