Ayala’s Energy Unit, also known as AC Energy, Inc., moved its plan to build more energy capacity by a year. The reason behind this advanced planning is that the company expects that there will be an increased energy supply and demand in the country. It will eventually reach equilibrium by 2021 or it can happen earlier than 2020. Ayala is such a great company to invest in because of the series of plans it has to expand locally and internationally. Now that it has disclosed its future proposal, we know that it is on track of expanding its market here in the Philippines.
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AC Energy is expecting equilibrium this coming 2021. This is earlier than 2022 it originally expected. It was one of the company updates that the firm told to the public. The plan is to build the capacity gradually. If there is a target of 1,000 megawatts (MW), it won’t be made immediately but rather, the firm can make it a couple of 100 MW annually. The plan is paced so that it would not be difficult for the firm. The change in plan was triggered because of the sales of the thermal assets and its acquisition of a company with subsidiaries related to various energy projects through different energy sources.
The partial divestment of AC Energy’s AA Thermal, Inc. and the recent acquisition of Phinma Energy Corporation have led to the group’s total attributable capacity of 1,600 MW, although it dived slightly from 1,700 MW last year during the same period. The total capacity includes the projects in the Southeast Asia region but the deals that have not been closed yet are excluded. This total capacity we are talking about consists of 55% coal-fired power plants, 34% renewable energy, and 11% diesel-fired facilities. This includes projects that are still in progress. 74% of this is here in the Philippines while the rest is in the regional sites.
The previous plan of AC Energy is to develop 1,000 MW of renewables to be finished by 2020. The company is expecting that this plan will either reach or exceed AC Energy. The company disclosed that there are significant projects in Vietnam, Australia, and the Philippines. Indonesia is still in question since the company is still assessing if there are megawatts that can be collected near the area. There are new markets and once the vision is clear, the firm will soon disclose it.