Ayala-led ACEN Corp. will begin the construction of its 60-megawatt (MW) Pangasinan Solar, the company’s first in the province, bringing its renewable portfolio in the country to 1,600 MW.
The Php 2.8 billion solar farm is expected to generate 94 gigawatt-hours of power annually, which can power around 55,000 households annually.
“At ACEN, we know it’s a race against time and we need big leaps to help curtail potential power shortages and address climate change. As we aggressively scale up our clean energy generation and help the region transition to a Net Zero economy, we will continue to bolster our development arm to ensure a healthy pipeline,” ACEN chief development officer Jose Maria Zabaleta said in a statement.
Last December, ACEN acquired Sinocalan Solar Power Corp. through a deed of absolute sale of shares with Sungrow Power Renewables Corp. and Havilah AAA Holdings. The acquisition would allow ACEN to fast-track the development of the Pangasinan solar plant, with the potential expansion of up to 100 MW.
ACEN is looking to launch 700 MW worth of solar and wind projects this year.
ACEN is looking to expand its renewables capacity to 20 gigawatts by 2030. The Ayala company is eyeing to achieve a 5,000 MW all-renewable energy portfolio by 2025.
The company currently has 4000 MW in attributable capacity across the Philippines, Vietnam, Indonesia, India, and Australia.