ACEN CORP., the listed energy platform of the Ayala group, is expanding its renewable energy presence within the Philippines with the energization of its P2.8-billion solar farm in San Manuel, Pangasinan.
In an announcement on Monday, ACEN said the 60-megawatt (MW) San Manuel Solar forms a part of the corporate’s strategic expansion following its acquisition of Sinocalan Solar Power Corp. in 2022.
The solar farm, the corporate’s first in Pangasinan, consists of 108,752 panels that might generate roughly 94 gigawatt-hours of electricity per 12 months, enough to power around 55,000 households.
The power utilizes ground-mounted photovoltaic panels and is directly connected to the National Grid Corporation of the Philippines through a dedicated 1.8-kilometer transmission line linked to the 69-kilovolt San Manuel Substation, ensuring efficient and reliable delivery of renewable energy to the grid.
ACEN previously said the solar farm has potential expansion capability of as much as 100 MW.
In December 2022, ACEN acquired Sinocalan Solar Power through a deed of absolute sale of shares with Sungrow Power Renewables Corp. and Havilah AAA Holdings Corp.
ACEN said San Manuel Solar is an element of its expanding renewables portfolio within the country and underscores the corporate’s support for the federal government’s renewable energy targets.
“As ACEN continues to scale its clean energy investments across Northern Luzon and beyond, the corporate stays focused on enabling a just, inclusive, and sustainable energy transition for the Philippines,” the corporate said.
Currently, ACEN’s renewable energy portfolio totals 7 gigawatts of attributable capability, including operational projects, those under construction, and projects backed by signed agreements.
The corporate manages assets across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and america.
Late last 12 months, ACEN announced it had transitioned its entire generation portfolio to renewable energy after completing the divestment of conventional power assets.
On the local bourse on Monday, shares in the corporate climbed 0.33% to shut at P3.06 apiece. — Sheldeen Joy Talavera