Ayala to ramp up renewable-energy assets by 2020

AYALA CORP. said it will hike its renewable-energy assets through 2020, as it reaches its attributable power portfolio to 2,000 megawatts (MW) from the current 1,300 MW.

Jose Teodoro Limcaoco, the company’s chief finance officer, said he expects a significant part of the company’s power portfolio to be contributed by the renewable-energy segment due to declining cost of investment.

“Renewable energy is part of the future. We’re into renewable energy, not only as part of sustainability, but also of cost coming down, particularly solar panels. For example, when we did our renewable project in 2015—if you did the same facility a year later—it would have cost 30 percent to 40 percent lower,” Limcaoco said. “We’re bullish on solar. The economics of solar energy is definitely moving in the right direction,” he said.

As part of the company’s focus on solar energy, Limcaoco said Ayala recently invested in a Silicon Valley-based solar firm start-up working on optimizing solar photovoltaic-panel technology.

He did not disclose other details other than the firm already has a production line and seven employees.

Ayala’s AC Energy Holdings Inc. recently announced acquiring full ownership of solar energy firms Bronzeoak Clean Energy and San Carlos Clean Energy.

AC Energy will now fold in the said firms along with San Carlos Solar Energy Inc., Negros Island Solar Energy Inc., Monte Solar Energy Inc., San Carlos BioPower Inc., South Negros BioPower Inc. and North Negros BioPower Inc.

Bronzeoak has completed five solar-power projects with a total capacity of 143 MW. The company is preparing for the development of three biomass-power plants.

AC Energy also holds interests in coal plants 604-MW GN Power Mariveles and 66-MW GN Power Dinginin in Bataan; 244-MW South Luzon Thermal Energy in Batangas; and 552-MW GN Power Kausawagan in Lanao del Norte.

The company also holds interests in the 81-MW North Luzon Renewables, the 52-MW Bangui wind farm in Ilocos Norte and the 18-MW Montesol solar farm in Bais, Negros Oriental.

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