Listed ACEN Expands Solar Farm Renewables

AC Energy (PSE: ACEN) continues to expand its renewables capacity in the Philippines with the start of construction of its 283 MW solar farm located in San Marcelino, Zambales.

Photo Insert: The San Marcelino solar farm will contribute significantly to ACEN's goal of reaching 5,000 MW of renewables capacity by 2025.

The project will be the largest solar farm in the country, capable of producing over 421 GWh of renewable energy per year and eliminating 287,796 tonnes of CO2 emissions annually. ACEN aims to help address the potential power shortages in the country as energy demand continues to grow, with project completion expected by the first half of 2023.

ACEN’s San Marcelino solar farm will feature the latest solar technologies such as east-west oriented panels and string inverters to capture solar radiation more efficiently.

The company, through its wholly-owned subsidiary, Santa Cruz Solar Energy Inc. as project owner, has tapped Power Construction Corporation of China Ltd. and PowerChina Philippines Corporation as the Engineering Procurement and Construction (EPC) contractors for the project, and to whom a notice to proceed was issued earlier today.

The solar farm sits on approximately 300-hectares of unutilized land covered by lahar, effectively converting the area to a sustainable energy source, and has an expansion potential of up to 700 MW.

The project will bring significant value to the local community with up to 500 direct jobs during the construction period, generating employment opportunities for thousands across Zambales.

"The San Marcelino solar farm marks the fifth facility that we have commenced with construction this year, and these project milestones all make for a fascinating period in the expansion of our renewable energy portfolio," said Jose Maria Zabaleta, ACEN's Chief Development Officer.

"As economies reopen and electricity demand grows further, we will aim for sustainable investments to play a leading role in accelerating the greening of the grid to meet our country’s needs.”

The San Marcelino solar farm will contribute significantly to ACEN's goal of reaching 5,000 MW of renewables capacity by 2025, towards becoming the largest listed renewables platform in Southeast Asia.

On October 18, 2021, ACEN announced its commitment to net zero greenhouse gas emissions to limit global warming by 1.5 degrees by 2050.

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