AYALA-LED ACEN Corp. targets to have its five floating solar power projects in Laguna Lake, with a combined potential capacity of 1,120 megawatts peak (MWp), start supplying power to the Luzon grid by 2027.
The large-scale floating solar project in Laguna Lake is estimated to have a combined project cost of nearly P48 billion, based on its filings with the Department of Environment and Natural Resources – Environmental Management Bureau (DENR-EMB).
“The schedule may be subject to change depending on other factors that may occur during the implementation of the project,” ACEN said.
In August last year, ACEN and its subsidiaries signed a renewable energy contract area utilization agreement with the Laguna Lake Development Authority (LLDA) to lease 800 hectares of renewable energy areas in Laguna.
SolarAce4 Energy Corp., AC Laguna Solar, Inc., AC Subic Solar, Inc., GigaWind 1, Inc., and Ingrid 2 Power Corp. received notices of award from LLDA in July 2023.
“This initiative is a tangible opportunity for ACEN to adopt new technologies, contribute to the Luzon grid, and bolster the Philippines’ energy self-sufficiency while tackling the critical issue of climate change,” ACEN President and Chief Executive Officer Eric Francia said in a statement last year.
In 2023, the Board of Investments granted green lane endorsement to the five floating solar power projects, which will expedite permit and license issuance, including resolving strategic investment issues.
SolarAce4 is expected to produce 140 MWp of power, with an estimated project cost of P6.25 billion. AC Laguna will generate 280 MWp and will probably cost nearly P11 billion to construct. AC Subic, with a combined cost of P12.5 billion, is set to deliver 280 MWp of power.
ACEN is targeting to start the construction of these floating solar power projects by the third quarter of 2025.
Ingrid 2 is set to produce 140 MWp at a project cost of P6.2 billion. Construction is eyed to begin by the first quarter of 2026.
GigaWind 1 is targeted for construction by the second quarter of 2026. The project has an estimated total cost of P12 billion and is expected to produce 280 MWp of power.
ACEN said that the construction of the proposed projects will commence upon receipt of the environmental compliance certificate from the DENR-EMB and related permits from the concerned local government units and government agencies.
The GigaWind 1 and Ingrid 2 floating solar projects went through public scoping this month. It is an early stage in the environmental impact assessment process where the proponents will provide an overview of the proposed projects and gather issues and concerns.
AC Subic, SolarAce4, and AC Laguna solar projects are scheduled for public scoping next month.
ACEN currently holds about 4.8 gigawatts (GW) of attributable renewables capacity in operation and under construction, as well as signed agreements and won competitive tenders worth over 1 GW.
At the local bourse on Wednesday, shares fell by 1.27% to close at P5.46 each. — Sheldeen Joy Talavera
