ACEN Corporation expects at least 700 megawatts of its solar and wind projects to begin operations in 2023.
Eric T. Francia (CEO and president of ACEN) stated that “ACEN is currently building more than 1,000 MW of wind and solar projects in the Philippines and 700 MW is anticipated to begin operations in the next twelve months.”
Francia stated that the facilities would reduce supply pressure and help the country meet its renewable energy targets. The Philippines aims to increase its renewable energy share to 35% in 2030 and to 50% in 2040.
The Department of Energy’s most recent data showed that coal accounted, for 57.5% of the country’s gross electricity generation mix, for the largest percentage. Natural gas was next at 17.7%, and oil-based sources were at 1.4%.
Francia stated that in order to increase renewable energy, it was necessary for the country to include more energy storage.
The company plans to achieve 20 gigawatts in renewable capacity by 2030. It currently has around 4,000 MW of attributable capacity in Australia, Vietnam, India, Indonesia, and the Philippines.