ACEN, Citicore's 72 MW solar farm now fully operational


Posted at Aug 30 2022 10:02 AM

MANILA - Ayala Group's listed energy arm ACEN Corp said Tuesday its 72 MW solar farm joint venture with Citicore Renewable Energy Corp is now fully operational.

The P2.9 billion Arayat-Mexico solar farm is generating 105 GWh of renewable energy, equivalent to supplying power to approximately 45,000 homes, ACEN said in a disclosure to the stock exchange.

ACEN said the capacity was a "critical addition" to the grid.

“In line with our strategy of leveraging on partnerships and synergies in the power sector, we are extremely pleased to showcase another successful venture that moves us closer to our shared goals of sustainable development for our country," ACEN chief development officer Jose Maria Zabaleta said.

"And as we work towards our bold vision to reach 20 GW of capacity by 2030, we aim to accelerate the energy transition across the region," Zabaleta added.

Aside from generating clean energy, the solar project also helps avoid about 72,000 metric tons of carbon dioxide emissions annually, the company said.

In terms of productivity, the project has generated over 1,500 job opportunities within the community, it added.

The solar project was completed in less than a year, meeting its objective to enhance the country's energy supply especially in Luzon, ACEN said.

ACEN and Citicore are also developing the project's 44 MW second phase which is expected to be commissioned by the second quarter of 2023. Once operational, the project's full capacity of 115 MW will be achieved, it said.

"With our aligned goals in providing renewable energy alternatives, we believe that our succeeding collaborations will empower us to move faster towards a sustainable and carbon-neutral future," Citicore Renewable Energy Corp president and CEO Oliver Tan said.