Corporate News

Ayala subsidiary to dispatch 1,000 MW to the grid next year

Posted on January 09, 2015

THE ENERGY unit of the country’s oldest conglomerate, Ayala Corp., will meet its goal of generating a combined 1,000 megawatts (MW) from its power plants by 2016 as scheduled, the listed parent company said yesterday.

PEOPLE stand next to windmills on Bangui Bay in Ilocos Norte, north of Manila, on May 4, 2013. -- AFP
In a statement, the conglomerate said its subsidiary AC Energy Holdings, Inc. now has an energy portfolio of over 700 MW, and that it would get further boost as more power plants go online.

The company last week signed a financing deal for its 540-MW coal-fired power plant in Kauswagan, Lanao del Norte, with construction to start early this year. Ayala had said the facility will be operational by 2017.

“This brings AC Energy’s attributable capacity to over 700 MW,” Ayala said in the statement.

“AC Energy Holdings, Inc. moved closer to attain its 2016 goal of reaching 1,000 MW attributable capacity of power plants that are operational or under construction.”

The Ayala subsidiary also has a 17% stake in a power plant in Bataan beside the existing GN Power Mariveles plant. The facility has two units each dispatching 600 MW to the grid.

Ayala said the first unit of its 2 x 135 MW coal-fired power plant in Calaca, Batangas is scheduled to start commercial operations within this quarter, while the second unit should be fully built by the end of the year. South Luzon Thermal Energy Corp. (SLTEC), a joint venture with Trans-Asia Oil and Energy Development Corp., operates that Batangas plant.

Ayala has two wind farms generating a combined capacity of 133 MW: the 52-MW Northwind Power Development Corp. in Bangui, Ilocos Norte, and the 81-MW wind farm in Pagudpud, Ilocos Norte. The two were completed last year.

Ayala has committed over $700 million in equity to build its base load capacity and develop renewable energy sources.

“We continue to work on a pipeline of power projects together with our partners to meet our goal of assembling over 1,000 MW in attributable generating capacity over the next few years,” Ayala said in the statement. -- MEIC