ACEN gets board approval for 335MW wind farm project

ACEN  Corp. said Tuesday its board approved the energy company’s investment in a 335-megawatt wind farm project straddling the provinces of Laguna and Quezon.

The energy arm of the Ayala Group said the renewable energy project will be undertaken through Giga Ace 6 Inc., which was recently named as a successful bidder in the Department of Energy’s second energy auction round. ACEN said it will provide the needed amount for Giga Ace to submit the required performance bond.
During the second round of the energy auction, the DOE set a price of P5.8481 per kilowatt-hour for electricity from onshore wind farms. It secured 3,580.76 MW of renewable energy capacity from the auction for delivery between 2024 and 2026.
This government aims to source 35 percent of the country’s power requirements from renewable energy by 2030 and 50 percent by 2040.
ACEN targets to have total renewable energy capacity of 20 gigawatts by 2030 and a net zero carbon emission company by 2050. Aside from the Philippines, the listed renewable energy company also has projects in Australia, India, Laos, Vietnam and Indonesia.