MANILA, July 24 (PNA) — AC Energy Holdings Inc. President and Chief Executive Officer (CEO) John Francia said the firm is optimistic on meeting its 1,000 Megawatt (MW) target capacity by 2016.
“We are now about 700 MW, but we still have (more projects in the) pipeline. So hopefully, we still have a year and a half to go to commit at least 300 MWs of attributable capacity,” Francia told reporters.
He added the firm has not yet updated its 1,000-MW target attributable capacity since 2011.
Some of its ongoing projects are the 540-MW GN Power Kauswagan coal fired power plant, located in Lanao del Norte and the 1,200-MW GN Power Mariveles Co. Ltd. expansion project in Mariveles, Bataan.
It has a 17.82 percent Stake in GN Power Mariveles Coal Plant Ltd., Co., which will be built with Chinese-firm Power Partners Limited Co.
The company also has a stake in the 270-MW Calaca coal-fired power plant, located in Batangas, which is a joint-venture project with Trans-Asia Oil and Development Corporation.
Last year, AC Energy reported it has completed Renewable Energy (RE) projects such as the 52-MW Northwind Power Development Corporation Wind Farm in Bangui, Ilocos Norte and the 81-MW wind farm by North Luzon Renewable Energy Corp. (NLREC) in Pagudpud, Ilocos Norte.
The two wind farms hiked Ayala’s wind power capacity to 133 MW.
AC Energy develops and operates power generation facilities ranging from solar, wind, and mini-hydro energy. It was formerly known as Michigan Power Inc. and changed its name to AC Energy Holdings, Inc. in May 2011. (PNA)