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ACEN Corp., the listed energy platform of the Ayala Group, is targeting to energize more projects with a combined capacity of around 1.2 gigawatts (GW) set to be up and running by the end of next year, its top official said.
According to its president and chief executive officer Eric Francia, the group currently has a 6.8 GW global generation portfolio—with 45 percent of them already operating, 34 percent under construction, and the remaining committed, or have been green-lighted by its board.
For next year, he said additional plants here and abroad would come online, beefing up ACEN’s network.
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Two of the major projects scheduled for activation are the 520-megawatt (MW) Stubbo Solar facility in Australia and the 146-MW Monsoon Wind in Laos.
“It’s on track to operate next year,” Francia told reporters, referring to the Laos development.
ACEN also has a wind project in Texas in the United States, with a capacity of 109 MW, and a hybrid solar-wind plant in India with a 123 MW capacity.
Its local clean energy projects slated for operations next year include solar and wind facilities in Pangasinan and Ilocos Norte.
Aside from the Philippines, ACEN is present in Australia, Vietnam, India, Indonesia, Lao PDR, and the US.
Francia earlier said that the region’s shift to clean energy has been witnessing “strong momentum,” driving the group’s optimism for pursuing its expansion.
By 2030, ACEN hopes to achieve its target of 20 GW of renewable capacity.
For the first nine months alone, ACEN recorded stronger performance following the activation of new power plants. It earlier reported that its consolidated net income reached P8.14 billion, higher than last year’s P6.6 billion.
Core attributable earnings before interest, taxes, depreciation, and amortization also improved by 30 percent to P14.3 billion.
In the Philippine market, ACEN said clean power plants here generated 1,370 GWh from January to September, surging 78 percent compared to the same period last year.
For its operations abroad, ACEN said it generated 2,741 GWh, 15 percent up from a year ago, driven mainly by two big projects it launched this year—the New England Solar in Australia and the Masaya Solar in India.