Ayala-led Acen Corp. will ramp up the development of power projects to two gigawatts (GW), or 2,000 megawatts (MW), per year to hit its 20GW target capacity by 2030. Know more:
Ayala-led Acen Corp. will ramp up the development of power projects to two gigawatts , or 2,000 megawatts , per year to hit its 20GW target capacity by 2030.
ACEN President Eric Francia said the company has been averaging about 1GW of capacity per year across its portfolio in terms of additional projects. It earlier aspired to have 5GW of renewable energy capacity by 2025. “That’s why the team is working hard to develop and enhance our pipeline. A lot of work ahead of us but we’ve got that singular objective of getting to 20GW by 2030. That means growing our pipeline and increasing the rate of new projects under construction from what has been 1GW to more than 1GW,” said Francia.
ACEN Chief Financial Officer Cora Dizon earlier this year’s capital expenditures will be funded by both debt and equity. “In terms new debts, we are projecting to borrow an additional of P30 billion. We’re are also looking at equity offering by way of the preferred shares. This is not part of P30 billion,” said Dizon.
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