AC Energy, ib vogt to Install 300 MWdc Solar Projects in the Philippines

Philippines-Based AC Energy Corporation (ACEN), an energy platform of Ayala, is planning to partner with the Singapore unit of German firm ib vogt for the installation of at least 300 MWdc of solar power projects in the country.

In a disclosure to the Philippine Stock Exchange (PSE), ACEN said its executive committee cleared the company’s plan to enter into a joint venture with ib vogt Singapore Pte Ltd. in to expand the Philippines’ solar capacity.

ib vogt GmbH focusses on developing and delivering high-quality large-scale turnkey photovoltaic plants worldwide and it has commanding presence in key markets like Europe and Asia.

AC Energy has stated that the 300MWdc installation is an initial target set by the companies in the proposed joint venture deal, but project sites have yet to be determined.

The executive committee has also approved the setting of capital expenditure budgets for ACEN’s proposed 288-MW solar project in Buguey and Lal-lo, Cagayan and for the proposed 275-MW expansion of the Gigasol Palauig solar project in Zambales. The first phase of the Gigasol Palauig solar farm, with a capacity of 63 MW, commenced operations last April 27.

ACEN aims to reach 5,000 MW of renewables capacity by 2025. The company has over 2,600 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia. The company’s renewable share of capacity is at 80 percent, among the highest in the region.

As of March 31, 2021, the Department of Energy reported a total of 865 renewable energy projects in the Philippines for commercial use, nearly half of which were hydropower. Solar energy projects amounted to 270 in that period while there were 85 wind energy projects. Renewable energy projects in the island nation were created in fulfilment of the Renewable Energy Act of 2008 which promotes the development, utilization and commercialization of renewable energy resources and for other purposes.