Ayala Group, UPC Start Construction of Philippines’ Biggest Wind Farm
An AC Energy wind turbine in Iloilo.The Ayala Group’s energy arm AC Energy Corporation and its partner UPC Renewables have started the construction of a P11.4-billion wind farm in Ilocos Norte, set to be the country’s biggest wind farm to date.
Located in Pagudpud in Ilocos Norte, the 160-megawatt Balaoi & Caunayan wind farm is expected to double the wind energy capacity in the country. The project is scheduled to be completed in the fourth quarter of 2022, and will start full-year operations in 2023 when supply in the Luzon energy market is projected to be tight.
“This project will further augment AC Energy’s generating capacity, following our recently completed solar farms and battery storage plants, and will contribute to the growth of our renewables share as we scale up our sustainable investments,” AC Energy chief development officer Jose Maria Zabaleta said in a regulatory filing.
“The site of the Balaoi & Caunayan wind farm has one of the best wind resources in the country and its construction marks the culmination of over 10 years of development work,” added UPC Renewables CEO David Sutton.
The project involves putting up 32 wind turbines with a total capacity of 5 megawatts each, which will be supplied and installed by Siemens Gamesa.
AC Energy aims to be the largest listed renewables firm in Southeast Asia, with a goal of reaching 5GW of renewables capacity by 2025.
Its wholly owned subsidiaries include Phinma Renewable Energy Corporation, CIP II Power Corporation, One Subic Oil Distribution Corporation, One Subic Power Generation Corporation, Phinma Power Generation Corporation, and Phinma Solar Energy Corporation.
It also has stakes in Phinma Petroleum and Geothermal Inc., Palawan55 Exploration & Production Corporation, South Luzon Thermal Energy Corporation, ACTA Power Corporation, and Maibarara Geothermal Inc.
Source: gmanetwork
