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Friday, March 29, 2024

AC Energy readies Vietnam investments

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AC Energy Holdings Inc., a wholly-owned subsidiary of conglomerate Ayala Corp., is now in talks with Vietnamese companies to construct solar and wind projects in the Southeast Asian country, an executive said Wednesday.

“We’re doing a lot of early development works in Vietnam for solar and wind. Because there is a feed-in tariff for solar and wind in Vietnam. We’re also open to conventional…But nothing is imminent yet,” AC Energy president John Eric Francia told reporters at the sidelines of the 5th Annual Philippines Power & Electricity Week Forum.

Francia said the company was negotiating with potential partners, specifically local companies in Vietnam, adding that solar projects should be up and running by June 2019 under the Vietnam government’s timeline.

“We are really exploring partners. We will not invest on our own in Vietnam. We will do it if we have local partners,” he said.

AC Energy targets about 1,000 megawatts of attributable capacity in renewable energy projects in the next five years.

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