AC Energy Inc. is “confident” of surpassing its goal of attaining capacity of 5 gigawatts of renewable energy (RE) in 2025, its top official said on Thursday. In a virtual roundtable, AC Energy President and Chief Executive Officer Eric Francia said his company would need funding of up to $2 billion to realize this goal. “I’m feeling quite confident that we will exceed our renewables capacity by 2025,” he added. According to him, AC Energy, through its listed subsidiary AC Energy Philippines Inc. (ACEN), has various power plants in the Philippines with a total capacity of approximately 1,000 megawatts (MW). Of the total, 550 MW come from thermal power plants and 450 MW from renewable facilities. Its international platform, AC Energy Finance International Ltd., has 900 MW of capacity, all renewables. Francia said once AC Energy’s local and international businesses are combined, which was seen to be completed by next year, the Ayala Group’s power business would have 1,900 MW of capacity in its portfolio. “And then the plan is to scale up our renewables [capacity of] 1,350 [MW]…to 5,000 MW or even more,” he added.
