Ayala-led AC Energy Corporation (ACEN) is planning to partner with German firm ib vogt for the installation of at least 300 megawatts (MWdc) of solar power projects in the Philippines.
In a disclosure to the Philippine Stock Exchange (PSE), the Ayala energy company specified that the executive committee of its board tackled in its meeting the proposed tie-up to be entered into with the German firm’s regional affiliate ib vogt Singapore Pte Ltd.
The 300 MW installation is an initial target set by the companies in the proposed joint venture deal stated AC Energy.
AC Energy has been accelerating project developments of wind and solar farm facilities in the country as a part of the 5,000 MW renewable energy capacity.
AC Energy stipulated that the executive committee of its board also earmarked capital expenditure (capex) for its two major RE projects in the Philippines – the 288 MW solar project in Buguey and Lal-lo in Cagayan province; and the 275MW expansion of its Gigasol Palauig solar farm venture in Zambales province.
The first 63 MW Gigasol Palauig solar facility reached commercial operations in April this year and it is now feeding its generated electricity to the Luzon grid.
As per company’s recent announcement the two solar farms of AC Energy Corp. and foreign partner UPC Solar Asia Pacific in India have started operations in the begining of this month.
AC Energy Corporation and UPC Solar Asia Pacific through its the joint venture company UPC-AC Energy Solar, announced the start of commercial operations of its two maiden solar farms in India, the 140 MWp (100 MWac) Sitara Solar and 70 MWp (50 MWac) Paryapt Solar.