ACEN investing P2.8 billion for Pangasinan project

MANILA, Philippines — ACEN Corp. is set to start construction of its first development in Pangasinan, which will require an investment of P2.8 billion.

ACEN said the 60-megawatt (MW) Pangasinan solar farm, which is expected to generate 94 gigawatt hours (GWh) of renewable energy per year, is targeted for completion by next year.

The P2.8 billion project will utilize ground-mounted solar photovoltaic panels, and will be directly connected to the grid through a two-kilometer transmission line to the 69-kilovolt San Manuel substation of the National Grid Corp. of the Philippines.

ACEN said the project’s output is enough to power an estimated 55,000 households and avoid approximately 58,369 metric tons of carbon dioxide emissions annually.

The project is also seen generating an estimated 1,000 jobs during the plant’s construction phase, helping boost Pangasinan’s local economy.

Pangasinan Solar is ACEN’s second solar farm to commence major construction works this year, bringing the company’s attributable renewables capacity in the Philippines to about 1,600 MW for projects in operation and under construction.

“We hit the ground running in 2023 with back-to-back projects commencing with construction here in the Philippines, and 700 MW capacity expected to start operations within the next 12 months,” ACEN chief development officer Jose Maria Zabaleta said.

ACEN announced in December last year  its acquisition of Sinocalan Solar Power Corp. (SSPC) through the signing of a deed of absolute sale of shares with Sungrow Power Renewables Corp. and Havilah AAA Holdings Corp.

This allowed ACEN to fast-track the development of Pangasinan Solar, with a potential expansion of up to 100 MW.

SSPC is a special purpose vehicle for the development and operation of the proposed solar power plant.

ACEN, the Ayala group’s listed energy platform, seeks to grow its renewables capacity to 20 GW by 2030.

The company is committed to 100 percent renewables generation by 2025.

ACEN has also fully divested from its remaining coal plant under South Luzon Thermal Energy Corp. (SLTEC) through the world’s first energy transition mechanism or ETM.

The ETM would ultimately result in the early retirement of the SLTEC coal plant by 2040, or 15 years ahead of the end of its technical life.

ACEN has about 4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 87 percent, which is among the highest in the region.

“At ACEN, we know it’s a race against time and we need big leaps to help curtail potential power shortages and address climate change,” Zabaleta said.

“As we aggressively scale up our clean energy generation and help the region transition to a Net Zero economy, we will continue to bolster our development arm to ensure a healthy pipeline,” he said.