Ayala to install 1,000-MW capacity this year

MANILA, Philippines – The Ayala Group is on track to putting up 1,000 megawatts of power capacity by year-end, which would be operational by 2019, a ranking official said.

Ayala managing director and group head for Corporate Strategy Paolo Borromeo said the 1,000 MW in new power capacity would be completed as targeted this year.

“(The 1,000 MW will be completed) in development and not operational,” Borromeo said.

He said the 1,000 MW is expected to be completed by 2019.

Ayala Corp. chief finance officer TG Limcaoco said the conglomerate’s energy business is expected to become a major growth driver.

“If you think of ALI (Ayala Land Inc), BPI, and Globe, those are the big three. I believe energy will be part of the next group,” he said.

Also, the group’s energy portfolio would also include renewable energy, Limcaoco said.

“We did solar and we’re also looking at wind and other renewable projects,” he said.

The company has 700 MW of power generating capacity.

These projects include a 50-percent interest in a 270 MW coal plant in Calaca, Batangas of South Luzon Thermal Energy Corp. as well as an 80-percent stake in the development of a 540-MW coal-fired power plant of GNPower Kauswagan Ltd. Co. in Kauswagan, Lanao Del Norte.

The GNPower Kauswagan project is estimated to cost around $1 billion to construct, which will be funded by both debt and equity.

The plant consists of four units of 135 MW each in Barangay Libertad and Tacub in the municipality of Kauswagan.