ACEN eyes 8-GW portfolio of new clean energy

MANILA, Philippines —  ACEN Corp. is eyeing to have in place an eight-gigawatt (GW) or 8,000-megawatt (MW) portfolio of clean energy projects in the Philippines by 2030 to help push the country’s renewable energy development.

The development of these projects in the country will help the company reach its objective of attaining 20-GW or 20,000-MW in attributable renewable capacity by 2030, making it the largest listed renewables platform in Southeast Asia.

With the Philippines remaining its core market, ACEN expects the geographic mix of its portfolio in 2030 to include five-GW in Australia, three-GW in Indonesia and other markets, as well as two-GW each in Vietnam and India.

ACEN said several of these pipeline projects are being developed with strategic partners.

“ACEN continues to scale up its renewable energy platforms and existing partnerships with a strong pipeline of renewable energy projects in the region, in various stages of development,” the Ayala Group’s listed energy platform said.

ACEN said it intends to utilize the four-MW renewable laboratory in Bataan under subsidiary Bataan Solar Energy Inc. as its main hub for the research and development of innovative renewables solutions to energy-related challenges.

“ACEN believes that the adoption of emerging technologies will play a prominent role in the expansion of its business,” the company said.

“At the Bataan renewable energy tech lab, different energy and energy storage technologies will be tested for possible large-scale use in the Philippines,” it said.

The company owns a generation portfolio of 4,030 megawatts of net attributable capacity based on ownership stake, 98 percent of which come from renewable technologies across Asia Pacific.

Among its renewable energy projects under construction in the country are the Alaminos Battery Energy Storage System Project, Pagudpud Wind, San Marcelino Solar, Cagayan North Solar and Capa Wind.

Expected for completion this year are the San Marcelino Solar in Zambales and the Cagayan North Solar in Cagayan, while Capa Wind in Ilocos Norte is expected to be finished by next year.

ACEN is preparing to spend up to P70 billion in capital expenditures this year to continue growing its renewable energy portfolio.

As part of its transition plan, the company has also recently bared its roadmap to reach net zero emissions by 2050, becoming the first energy company in Southeast Asia to undertake a critical step toward achieving such goal.

ACEN seeks to deliver reduction-led decarbonization by 2040, with an interim target for 2030, and a net zero status by 2050.