AC Energy Philippines announced it will add two more solar power projects in Central Luzon to the list of facilities it is currently developing to further boost its renewable energy capacity.
AC Energy said the first, costing P3.3 billion, will be built under a joint venture with Citicore Renewable Energy Corp. in Arayat and Mexico in Pampanga and will provide up to 75 megawatts (MW) of capacity .
The facility will start operation in the fourth quarter of next year.
The second project is fully owned by AC Energy Philippines and will be located in Palauig, Zambales with a capacity of up to 75 MW and a project cost that could reach P2.9 billion.
It is expected to reach completion in the first quarter of 2022 and will be in close proximity to the 60 MW GigaSol Palauig solar plant being constructed by the company.
Eric Francia, AC Energy president and chief executive officer, said the additional solar plants in Central Luzon bring the company’s total Philippine projects under construction to 480 MW which includes 330 MW from solar resources and 150 MW from peaking diesel plants.
Based on equity interest in power generation businesses, the AC Energy Group already owns approximately 1.7 gigawatts (GW) of generation capacity in operations and under construction as it aspires to exceed 5 GW of attributable capacity and generate at least fifty percent of energy from renewables by 2025 and be the largest listed renewables platform in Southeast Asia.