ACEN set to start Laguna Lake floating solar project
MANILA -Ayala-led ACEN Corp. is set to develop its first large-scale floating solar project on Laguna Lake, adding 1,100 megawatts (MW) of power capacity to its renewable energy portfolio.
The listed energy platform of the Ayala group on Tuesday signed a renewable energy (RE) contract area utilization agreement with the Laguna Lake Development Authority (LLDA) to lease 800 hectares (ha) of RE area in the country’s largest freshwater lake.
The LLDA had auctioned off 2,000 ha in the southern and eastern areas on Laguna de Bay for the development of floating solar projects spanning the cities of Calamba, Santa Rosa and Cabuyao, as well as the towns of Bay and Victoria. The total area translates to about 2,500 MW of floating solar power capacity.
Among the winning bidders were ACEN, local solar power developer SunAsia Energy Inc., and Singapore-based Vena Energy, according to the LLDA.
ACEN president and chief executive officer John Eric Francia explained that the project was still in the predevelopment stage, as the winning bidders still have to secure the necessary permits, such as environmental compliance certificates, before proceeding to construction.
“We still have a lot of work to do ahead of us. We have to talk to suppliers because this is the first time we’ll be doing [floating] solar,” Francia told reporters, adding that it was “too early” to determine the required capital expenditure for the project.
He noted that it would take two to three years for the project to open for commercial operation.
ACEN, through its subsidiaries AC Subic Solar, AC Laguna Solar, SolarACE4 Energy, Ingrid Power and GigaWind 1, received Notices of Award from the LLDA in July.
It had also applied for solar energy operating contracts with the Department of Energy (DOE) for the 800-ha area.
“As we explore the potential of our first large-scale floating solar project, which will be a crucial part of ACEN’s master plan to achieve our 2030 goal, we are excited to spearhead this energy innovation in the Philippines,” Francia said.
ACEN aims to grow its renewable energy portfolio to 20 gigawatts (GW) by 2030 in line with its net-zero carbon emissions goal.
It so far has 4.4 GW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 98 percent.
SunAsia, meanwhile, will develop 1,300 MW of capacity on a 1,000-ha area on Laguna Lake, investing a total of $1.2 billion on the project.
The company conducted a pilot test in 2018 on 1,000 ha to ensure that the solar panels could properly adapt to the lake’s environment.
Vena Energy will get 200 ha, for a total of around 270 MW of capacity.
The DOE has so far awarded at least 237 solar energy contracts with an aggregate installed capacity of 1,282 MW and potential capacity of 21,452 MW.
