Philippines: AC Energy breaches 1,000-MW capacity target

Philippines: AC Energy breaches 1,000-MW capacity target

AC Energy Holdings Inc., the power generating arm of conglomerate Ayala
Corp., has breached its 1,000-megawatt (MW) capacity target with the
construction of the 668-MW GNPower Dinginin project now in full swing.

With the construction of GN Power Dinginin Ltd. Co. (GNPD) coal plant, AC
Energy now has a total attributable capacity of 1,088 MW.

AC Energy president and CEO John Eric Francia said the company achieved this
milestone through partnerships with various industry players.

"Our ability to partner has been a strong driver in rapidly growing our
portfolio. We will continue to grow through partnerships and in the process
have a more diversified portfolio," he said.

The power firm has an attributable capacity of 334 MW from GNPD, where it
owns a 50-percent economic stake with US-based GN Power, owned by
Nauruan-American firm Power Partners Ltd. Co.

Since it entered the market in 2011, AC Energy now has seven thermal, wind,
and solar assets.

Apart from the Dinginin project, other facilities that make up the 1,000 MW
portfolio include the 604-MW GNPower Mariveles, the 2x135-MW coal-fired
power plant in Calaca, Batangas under South Luzon Thermal Energy Corp.
(SLTEC) and the 4x135- MW coal-fired power plant in Kauswagan, Lanao del
Norte in Mindanao through GN Power Kauswagan Ltd. Co. (GNPK).

AC Energy's portfolio also includes the 52-MW Northwind Power Development
Corp. in Bangui, Ilocos Norte and the 81-MW wind farm in Pagudpud, Ilocos
Norte through its affiliate North Luzon Renewable Energy Corp. (NLREC). It
also recently completed an 18-MW Monte Solar Energy Inc. (Montesol) plant in
Negros Oriental, which is a joint undertaking with Bronzeoak Clean Energy
Inc.

The company covers an attributable capacity of 26 MW in Northwind, 29 MW in
NLREC and 14 MW in Montesol.

In addition to its investment in renewable sources such as wind and solar,
AC Energy ensures high environmental standards in its projects by using
clean coal technologies such as circulating fluidized bed and super critical
technology.

Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala said the power
unit has started to contribute to the country's energy infrastructure needs
and has become a significant component of Ayala's portfolio.

"We will continue our significant investments in this space and expect AC
Energy to be a key driver of Ayala's growth and value in the long term," he
said.

The company recorded P2.1 billion in net income in 2015. In 2016, it
registered a three-fold growth in its first half earnings compared to the
same period last year.

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Ref:
http://www.philstar.com/business/2016/09/23/1626339/ac-energy-breaches-1000-
mw-capacity-target

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com