Ayala-led ACEN, its subsidiary ACE Endevor, and CleanTech Global Renewables have finalized their joint venture (JV) for the development of a 133-megawatt (MW) solar farm in Lal-lo, Cagayan.
First disclosed to the Philippine Stock Exchange in December 2021, Natures Renewable Energy Development Corporation (NAREDCO) will serve as the JV firm for the project. ACEN and ACE Endevor own a combined 60%, while CleanTech – through subsidiary CleanTech Renewable Energy 4 Corporation – owns the remaining 40%.
The solar farm will be built on a 115-hectare area with “high solar irradiance” in Barangays Magapit and Sta. Maria. The facility also has the potential to expand up to 200MW.
Based on the Global Solar Atlas, the two barangays have a specific photovoltaic power output (PVOUT) of 1,387.5 kilowatt-hour (kWh) per kilowatt peak, a direct normal irradiation (DNI) of 1,333.6 kWh per square meter (m2), and a global horizontal irradiation (GHI) of 1,727.2 kWh/m2.
Aside from the solar farm, NAREDCO will also construct a three-kilometer transmission line, which will connect to the 69-kilovolt Lal-lo substation of the National Grid Corporation of the Philippines.
Once completed, the solar farm will produce 188 gigawatt-hours of renewable energy (RE) yearly, which is enough to power 75,000 households while avoiding around 112,405 metric tons of carbon dioxide emissions.
“We are delighted to be working with CleanTech to help accelerate our country’s shift to a low carbon economy and add more renewables capacity to our existing 3,300MW,” ACEN Chief Development Officer Jose Maria Zabaleta said in a statement.
“Our new partnership with ACEN is a milestone for CleanTech. Partnering with one of the largest listed renewable energy platforms in the region brings a host of opportunities to further our sustainable goals, spur the economy’s growth and ensure the progress of the community,” said CleanTech President and CEO Salvador Antonio “Aboy” Castro, Jr.
ACEN President and CEO Eric Francia said in Power Podcast’s maiden episode last year that the Cagayan solar project is among those that would bring the company’s RE portfolio to 3,000MW early this year.
ACEN currently has 3,800MW of attributable capacity in the Philippines and the Asia-Pacific region, 87% or 3,300 MW of which are from RE projects.The company is eyeing a 5,000 MW all-RE portfolio by 2025.