by Lenie Lectura – February 9, 2016
from Business Mirror
A.C. Energy Holdings Inc., the development arm of the Ayala group in the energy sector, is confident of achieving its target of assembling over 1,000 megawatts (MW) of attributable capacity this year.
“We will reach that target. By 2016 we will have 1,000 MW. Once we go full blast on GN Power, we will be able to cross the 1,000-MW target,” AC Energy President John Eric Francia said. The company is committed to build a portfolio of power-generation assets using renewable and conventional technologies.
Since 2011, Ayala has committed over $700 million in equity to develop conventional and renewable-energy sources. AC Energy has currently assembled over 700 MW of attributable capacity.
“Right now, we have around 700 MW. We are confident that we will reach the target we set,” Francia said.
The company’s other projects include a 50-percent interest in South Luzon Thermal Energy Corp., a 2×135-MW coal-fired power plant in Calaca, Batangas; a 20-percent interest in the 600-MW power plant of GN Power Mariveles Coal Plant Ltd. Co. in Mariveles, Bataan; and an 80-percent interest in the development of a 4×135-MW coal-fired power plant of GN Power Kauswagan Ltd. Co. in Kauswagan, Lanao del Norte.
AC Energy also assembled a total of 133 MW of wind-farm capacity, the second largest in the country, which includes the Northwind Power Development Corp.’s 52-MW wind farm in Bangui, Ilocos Norte; and the 81-MW wind farm of the North Luzon Renewable Energy Corp. in Pagudpud, Ilocos Norte.
GN Power Mariveles is expected to start construction of the first 600-MW coal plant in Bataan this year. The second phase of the power project involves putting up another 600 MW of power-generating capacity also in the area.
US-based GN Power is owned by Nauruan-American firm Power Partners Ltd. Co. Aside from AC Energy, Sithe Global Power Llc., a company owned by investors of the Blackstone Group, is also part of GN Power.
AC Energy aims to help contribute to the country’s energy requirements.
The company is fully committed to provide reliable and sustainable energy that will help supplement the country’s power needs while delivering value to Ayala, its business partners and the communities where it operates.