AC Energy said 50 percent of its 1.8 gigawatts total attributable capacity from assets in operation and under construction, spanning projects in the Philippines, Indonesia and Vietnam is already from renewable sources.
“As we shift our portfolio towards renewable energy, AC Energy has developed a pipeline of more than 1,000 megawatts (MW) in various renewable projects in the Philippines and overseas that are expected to reach financial close within 2020,” said Eric Francia, AC Energy president and chief executive officer said in a statement.
Francia said the move is in line with AC Energy’s goal of achieving 5,000 MW of renewables capacity by 2025.
The company issued two green bonds last year, effectively raising $810 million in fresh capital.
“With the electricity demand continuing to exhibit strong growth on the back of a robust economy across the region, as well as improvements in renewable energy cost and efficiency, we will continue to expand and diversify our generation capacity, and we will make significant strides towards our goal in becoming the leader in renewable energy across the region,” Francia added.
