Listed firm Nickel Asia Corp. (NAC) said its energy generation arm, Emerging Power Inc., is on track to generate more than 500 MW of electricity by next year.
This, the business said, is already half its target capacity of 1,000-MW or 1 gigawatt (GW) by 2028.
Andre Mikael Lu Dy, NAC vice president for treasury and investor relations and sales, said the business should have 174 MW in operation by year’s end, another 487 MW under construction and 1.8 GW more capacity in various stages of development.
“By next year, we will reach half of our goal. Half a GW is what we will be operating by 2025. Under construction will be 1.5 GW by then. By 2026 we will more than deliver our goal of 1 GW by 2028,” Dy said.
Soon coming online is the 145-MW Subic Cawag solar project which will start construction next month and seen completed by the fourth quarter next year.
Also, the 240-MW solar prospect in Leyte will deliver the first 120-MW when completed by the second quarter next year.
Dy said NAC has an existing geothermal project producing 1.5 MW of power expandable to 10 MW.
