Southeast Asia's RE Firm ACEN to Include 700 MW Solar & Wind Energy in 2023

• ACEN is currently constructing over 1,000 MW of solar and also wind projects in the Philippines, said the chief executive officer.
• The addition of new renewable resource capacity will help balance the power demand as well as supply scenario and additionally aid the Philippines in accomplishing the renewable energy targets.

Just as the Philippines is aiming to elevate the share of renewable resource in the country's energy mix to 35% by the end of this decade and also 50% by 2040, its renewable energy empire ACEN Corporation is wanting to operationalise 700 MW of solar and also wind energy projects in 2023. ACEN is the energy platform of the Ayala Group and also takes pride in 3,700 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, as well as Australia.

Through a social media message, ACEN President and also Chief Executive Officer, Eric T. Francia, stated, "ACEN is currently constructing over 1,000 MW of solar as well as wind projects in the Philippines, of which around 700 MW is expected to start operations within the following year."

The ACEN CEO educated that the addition of new renewable energy capacity will certainly aid balance the power demand and also supply scenario as well as additionally help the Philippines in attaining the renewable energy targets.

Francia also held that in order to scale up the renewable energy, the Philippines needs to develop even more energy storage space in the power system. The travesty of Philippines is that the nation currently has a plain 23 per cent share of renewables in the energy mix. Coal remains to dominate the power manufacturing with over 57 per cent share.

The ACEN CEO likewise included, "It is therefore critical to obtain the reserve market functional soonest. It is likewise essential to get the renewable resource market operational, particularly given the upward adjustment in renewable portfolio standards (RPS)." Under RPS system, the DISCOMs of the Philippines require to resource or generate a fraction of their power from renewable energy plants.

ACEN wishes to reach net-zero greenhouse gas emissions by 2050 incidentally of retiring its continuing to be coal-based power plants. It wishes to end up being a 20 GW renewable energy firm by the end of this years. In November, ACEN entirely divested South Luzon Thermal Energy Corporation (SLTEC) coal plant utilizing the energy shift mechanism (ETM), the very first ETM sell the globe.

Earlier this year, the business had activated the first hybrid solar and also energy storage project of 40 MW in Alaminos, Laguna, Philippines.