ACEN begin on 300-MW solar project in the Philippines

• ACEN Corporation (PSE: ACEN), the energy platform of Philippine conglomerate Ayala Group, will better increase its renewables portfolio with the construction of a 300-MW solar park in the Philippines' Central Luzon area.

The company claimed in a bourse filing on Wednesday it will certainly construct the solar (PV) farm in closeness to its 63-MW Palauig 1 plant in Zambales province, which has been functional considering that April 2021. Palauig 2 will add even more capacity to produce a complex that will generate power for around 139,000 regional homes.

The solar growth project also features the construction of a 1.2-GW transmission line. The overall expense is approximated at PHP 16 billion (USD 293.2 m/EUR 268.8 m).

Palauig 2 will certainly be outfitted with Seraphim solar panels of 540 MWp each, expected to have a yearly output of over 450 GWh. ERS Energy Pte Ltd and Global Electric Power Development Corporation (GEC) will certainly serve as engineering, purchase as well as construction (EPC) service providers.

"Palauig 2 Solar is the first of numerous new plants to commence with significant construction works this year, and also the demand to sustain this sped up pace in the direction of the rapid growth of the renewables space is on top of our agenda," said Jose Maria Zabaleta, chief development policeman of ACEN.

Currently, ACEN has about 4 GW of attributable capacity in the Philippines, Vietnam, Indonesia, India as well as Australia. The group's objective is to have 20 GW of renewables by 2030.