August 22, 2024 | 12:00am
MANILA, Philippines — Ayala-led ACEN Corp. is powering up P47.89 billion worth of floating solar projects across Laguna Lake by 2027 to provide an energy boost to the Luzon grid.
Based on filings with the Department of Environment and Natural Resources-Environmental Management Bureau, the large-scale solar venture has a combined capacity of 1,120 megawatts peak (MWp).
ACEN, through AC Subic Solar Inc., is gearing up to construct a 280-MWp project in the municipalities of Victoria and Sta. Cruz in Laguna.
The project covering 200 hectares of lake surface consists of two blocks with an estimated cost of P6.25 billion apiece.
AC Laguna Solar Inc. is also set to construct a 280-MWp solar project consisting of two blocks occupying 200 hectares of lake surface in Victoria and Pila.
The estimated cost of the proposed project and its components is pegged at P5.47 billion for each block.
Another subsidiary, SolarAce4 Energy Corp., is investing P6.25 billion to develop a 140-MWp project in Sta. Cruz.
These three projects are expected to start construction by the third quarter next year, with commercial operations targeted as early as January 2027.
ACEN is also revving up for the development of Gigawind1 Inc.’s 280-MWp solar project and Ingrid 2 Power Corp.’s 140-MWp solar venture.
Located across the lake surface in the municipalities of Kalayaan and Paete, the P12-billion Gigawind1 project will start construction in the second quarter of 2026 and will be finished before the end of 2027.
The P6.2-billion Ingrid project, on the other hand, is set to start as early as January 2026, with commercial operation expected by the third quarter of 2027. The project is situated in the municipality of Lumban.
The construction of ACEN’s five floating solar projects is subject to the issuance of DENR-EMB’s environmental compliance certificate and related permits from the concerned local government units and agencies.
“The schedule may be subject to change depending on other factors that may occur during the implementation period,” the Ayala Group’s listed energy arm said.
The projects are aligned with ACEN’s ambitious target of quadrupling its renewable energy capacity to 20 gigawatts by 2030. It currently has a portfolio of 4.8 GW of attributable RE capacity across the Philippines, Australia, Vietnam, Indonesia and India.
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