The energy unit of Philippine conglomerate Ayala Corp. on Tuesday (April 26) said that it plans to acquire wind projects in the United States in line with its target to boost its renewable energy capacity to 5,000 megawatts by 2025.
In a stock exchange disclosure, Patrice Clausse, president and chief operating officer of AC Energy Corp.’s (ACEN) international business, said that they’re looking for the US to become a priority market for ACEN outside of Philippines over time.
The energy unit got board approval to enter the U.S. renewable energy market through a partnership with UPC Solar & Wind Investments LLC and Pivot Power Management.
They intend to acquire operating wind projects and explore strategies to extend their life through preventive maintenance and repowering.
“This partnership will provide an exciting entry to the fast-growing US market, and we look forward to leveraging the combined expertise of ACEN and our new partners to make this a strong growth platform in the coming years,” Clausse said. “Our aspiration is for the U.S. to become a priority market for ACEN outside of the Philippines over time.”
ACEN noted that it has invested more than $200 million in its so-called “priority markets” which include Australia, Vietnam, and Indonesia.
Moreover, the company has about 3,800 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia with a renewable share capacity at 87%, which it claims to be the highest in the region.
ACEN Chairman Fernando Zobel de Ayala has earlier said that the company had increased its project pipeline to 18,000 MW in an aggressive expansion in renewables investment.
Pola Rubio is a news writer and photojournalist covering Philippine politics and events. She regularly follows worldwide and local happenings. She advocates for animal welfare and press freedom.
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