Ayala’s ACEN inks deal for Ilocos wind farm
ACEN Corp., the energy platform of Ayala Corp., signed an accord for the development of its 70-megawatt (MW) wind farm in Ilocos Norte.
The agreement signed by ACEN subsidiary, Amihan Renewable Energy Corp. (Capa Wind), and Siemens Gamesa Renewable Energy Technology entails the supply and construction of the wind project, which will rise in Caparispisan, Pagudpud town.
ACEN is constructing the P6-billion wind facility through Capa Wind, among the entities that won the supply contract under the Department of Energy’s green energy auction.
Under the Green Energy Auction Program (GEAP), a total of 2,000 MW of renewable energy capacity were auctioned off by the government. The program will aid in the country’s energy transition.
Capa Wind, a wholly-owned subsidiary of North Luzon Renewable Energy Corp., a joint venture between ACEN and Mitsubishi Corp.’s Diamond Generating Asia Ltd., submitted the lowest winning bid for wind supply at P3.8583 per kilowatt-hour for 20 years during the first round of GEAP held in June.
ACEN said the wind project, targeted for completion in 2024, can produce more than 220 gigawatt-hours of renewable energy and eliminate over 130,000 tons of carbon dioxide emissions yearly.
The wind farm “will generate and supply clean power to more than 60,000 homes per year, and provide over 300 local jobs during its construction stage,” it added.
The ACEN board earlier approved infusing up to P1 billion as equity into Capa Wind and procurement of the performance bond for the GEAP. INQ
