The Ayala Corp.’s energy business group has been recognized as the fastest growing energy platform by the International Finance Magazine in London.
AC Energy was given recognition at the IFM Awards 2017 for the company’s growth of its attributable capacity from 80 megawatts (MW) in 2011 to over 1, 600 MW in 2017.
“We are honored to receive this award, which recognizes the exceptional growth of AC Energy. From a standing start in 2011, the company has become one of the largest energy platforms in the Philippines and is poised to become a significant regional player. This was made possible by the extraordinary work by the AC Energy team and strong support from our shareholders and partners,” AC Energy CEO Eric Francia said.
The company currently has 1.3 gigawatts (GW) worth of conventional power and around 300 MW of renewable energy projects.
Among the conventional power projects of AC Energy include; 668-MW GN Power Dinginin Ltd. Co. coal plant in Bataan, 604-MW GN Power Mariveles, the 2×135 MW coal-fired power plant in Calaca, Batangas through the South Luzon Thermal Energy Corp. and the 4×135 MW coal-fired power plant in Kauswagan, Lanao del Norte in Mindanao through the GN Power Kauswagan Ltd. Co.
Meanwhile, its renewable energy projects include the 52-MW Northwind Power Development Corp. in Bangui, Ilocos Norte, an 81-MW wind farm in Pagudpud, Ilocos Norte through NLREC and an 18-MW solar plant in Negros Oriental which is a joint undertaking with the Bronzeoak Clean Energy Inc.
AC Energy is also pursuing energy projects outside of the country since last year, beginning with two investments in Indonesia.
The company has acquired Chevron’s Darajat and Salak geothermal fields in West Java, Indonesia that has a combined capacity of 637 MW of steam and power.
AC Energy has also teamed up with the UPC Renewables Indonesia Ltd. to build a 75-MW wind farm in Sulawesi under the PT UPC Sidrap Bayu Energi.
Apart from Indonesia based projects, AC Energy also partnered with the BIM Group of Vietnam to develop over 300 MW of solar power projects in Ninh Thuan province.