AC Energy Holdings Inc., a unit of conglomerate Ayala Corp., is seeking another solar project in Vietnam with a different partner after recently signing a deal with the BIM Group for over 300 megawatts of capacity, a senior official said over the weekend.
“There’s another partner. It’s another project. Potential is another 300 mw. The partnership will have to be concretized once permit is issued. Permitting process (is) taking time,” AC Energy senior vice president for external affairs Don Mario Dia said.
AC Energy recently teamed up with BIM Group of Vietnam to jointly develop over 300 MW of solar power projects in Ninh Thua province, Vietnam.
AC Energy, meanwhile, plans to build an attributable generation capacity to 2,000 megawatts by 2019, or one year ahead of its target.
“Hopefully, by next year we’ll hit the 2,000 MW which is one year ahead of the target,” AC Energy chief executive officer John Eric Francia earlier said.
He said the company’s combined output might reach 1,800 MW this year.
He said the company was also increasing its renewable energy portfolio to over 1,000 MW by 2020.
“What I am saying is, over the next three years, by 2020, we are hoping that our RE will come close to our thermal... terms of peak megawatts. Our goal is to exceed the 1,000 MW for RE by 2020 and then thermal will still grow,” Francia said.
He said the company would continue to look at overseas opportunities such as Indonesia and Vietnam for renewables and thermal or coal projects as well.
“AC Energy is very keen to participate in the fast-growing Vietnam power sector, with pioneering investments in renewable energy. We are delighted to partner with BIM Group, which has a significant presence in Ninh Thuan province, which in turn, has among the best solar irradiance in the country,” Francia said earlier.
The initial phase of a 30-MW solar project broke ground on January 23 with Conergy Asia & ME as the construction partner.
Investment in the first phase is expected to reach 800 billion Vietnamese Dong for completion within the year. The project can be expanded up to 300 MW.