AC Energy, a subsidiary of the Ayala Group, is set to bolster its commitment to renewable energy with a substantial investment of $293 million in the construction of a 300-megawatt solar farm in Zambales. The Palauig 2 project marks a significant stride toward AC Energy’s target of generating 20 gigawatts from clean energy sources by 2030.
The Palauig 2 project encompasses the development of a 300-megawatt solar farm along with the construction of a 1,200-megawatt transmission line. With an estimated cost of 16 billion pesos, the facility, once completed, is anticipated to generate over 450 gigawatt hours of electricity annually. Together with the output from Palauig 1, these projects aim to power around 139,000 households while mitigating 350,000 tonnes of carbon emissions each year.
The investment in the Zambales solar farm aligns with AC Energy’s robust strategy to expand its renewable energy portfolio. The company has been actively pursuing clean energy projects not only in the Philippines but also globally, with ventures in Australia, India, and Vietnam. This latest initiative underscores AC Energy’s dedication to sustainable practices and advancing the transition to green technologies.
AC Energy’s substantial investment in the Zambales solar farm not only reinforces its commitment to sustainable practices but also contributes significantly to the Philippines’ renewable energy landscape. As the company continues to expand its global clean energy initiatives, this venture represents a crucial step toward achieving a greener and more sustainable future.
