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Ayala's AC Energy targets 200 MW of fresh Philippine PV - report

Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

May 24 (Renewables Now) - AC Energy, part of Philippine group Ayala Corp (PSE:AC), plans to add between 100 MW and 200 MW of solar power generating capacity in the Philippines over the next 12-18 months, according to a top official.

Most of the projects will be hooked to the Luzon grid and the company will concentrate on smaller capacities initially, AC Energy’s president and CEO, Eric T Francia, told reporters as quoted by the Manila Bulletin.

While the company will focus mostly on solar power in the near term, it hopes to also realise wind projects in the next couple of years.

According to Francia, the upcoming projects are likely to be financed with a portion of the proceeds raised through a green bond issuance from earlier this year.

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