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provide equipment maintenance services for South Luzon Thermal Energy Corp. Francia earlier said the Ayala Group
19 years. “For Dinginin, unit 1 is targeted for planned to scale up renewable energy
The new gas turbine-based facility will also commercial operations next year between portfolio to 2,500 MW in 2021.
replace a previously planned Solid Refuse Fuel March and April. Then soon after that is unit “We are really building up AC Energy
boiler plant and provide steam for district 2. We want to make sure plant is operating Philippines or ACEN, the listed company.
heating for more than 100,000 Naepo citizens. well then revisit potential divestment later,” ACEN will be our main integrated platform
Francia said. for energy. ACEN will realize vision of 5
AC Energy completed the partial sale of a gigawatts [5,000 MW] by 2025,” Francia said.
49-percent voting interest with a 60-percent ACEN now has 1,000 MW of capacity in
COAL-FIRED GENERATION economic interest in AA Thermal Inc. to the Philippines, but only half is renewable
Aboitiz Power Corp. for $572.9 million in energy.
Philippines’ AC Energy to May 2019. capacity, which is purely renewable. The plan
AC Energy International owns 900 MW of
AA Thermal has ownership interest
accelerate divestment of in GNPower Mariveles, which has been is to infuse the international platform, AC
Energy International into ACEN next year.
operating since 2014, and GNPower Dinginin
coal assets power plants which are under construction. around 550 MW of thermal, 450 of RE, so
“For the Philippines, out of the 1,000 MW,
AC Energy also signed an agreement last
AC Energy Inc., the energy unit of Ayala year to transfer its indirect ownership interest once we infuse the international platform to
Corp., plans to divest its coal assets ahead of in the 540-megawatt, coal-fired power project ACEN, ACEN will now have 1,900 MW, on
the original target of 2030, joining other local in Kauswagan, Lanao del Norte to Power proforma basis,” Francia said.
and international companies in the renewable Partners Ltd. Co., the developer-partner. Francia said the group’s plan was to scale
energy bandwagon, a top executive said over The GNPower Kauswagan power plant is a up renewable energy investments from the
the weekend. partnership of AC Energy and the Philippine current 1,350 MW.
“Our commitment is to divest all our coal Investment Alliance for Infrastructure Fund He said they were aiming to expand the
assets by 2030, but I don’t think we will wait and Power Partners. renewables capacity of ACEN to 2,500 MW
by 2030,” AC Energy president Eric Francia “GN Kauswagan is expected to reach next year, “so we expect to be halfway to our
said in a virtual briefing. financial close by 2021,” Francia said. 2025 target as early as 2021.”
AC Energy has around 500 megawatts of Francia said AC Energy is “really very “The 1,350 MW, we will bring that to 5,000
remaining coal assets after divesting some bullish of the energy transition” towards clean MW or even more. I’m feeling quite confident
of its stake in the 540-megawatt, coal-fired energy sources. we will exceed our renewables capacity by
power project in Kauswagan, Lanao del Norte, “We’d like to play a leading role in the 2025, we will exceed 5,000 MW,” he said.
the 600-MW facility in Mariveles, Bataan and energy transition particularly to the shifting
the 1,200-MW station in Dinginin, Bataan. to renewable energy technologies. Our vision
The company also owns the 70-MW to be the largest listed renewables platform in
thermal plant in Calaca, Batangas through Southeast Asia,” he said.

Week 47 25•November•2020 www. NEWSBASE .com P13