ACEN to supply power to Ayala Land
By MYRNA M. VELASCO
Listed firm AC Energy Corporation (ACEN) will be providing electricity supply generated from its renewable energy (RE) facilities to the real estate developments of its affiliate firm Ayala Land Inc. (ALI) as part of the conglomerate’s net zero target by year 2050.
Based on their power supply agreement (PSA), ACEN will initially supply its affiliate Ayala real estate company ALI from its 120-megawatt solar power plant in Alaminos, Laguna. But there were no details yet as to the volume of supply procurement as well as pricing to the power capacity that will be fed into the real estate assets of ALI.
In the calculation of the Ayala group, that tie-up on energy sourcing for ALI’s property developments will eliminate roughly 102,540 metric tons of carbon dioxide equivalent (MTCO2e) on a yearly basis – or in tangible terms, that will be comparable to 22,291 cars taken off from the road.
ACEN emphasized that its 120MW Alaminos solar farm installation is the first of such technology type that had been developed on a hybrid basis.
Bernard Vincent Dy, president and CEO of Ayala Land, noted that the power supply pact sealed with ACEN “enables us to leverage synergies across the Ayala group and provides a platform to advance our net zero goal.”
He added that “as we strive to deepen our commitment to sustainability, we recognize how these efforts contribute to the shift towards a low carbon future.”
The investment portfolio of AC Energy is majority on the renewable energy terrain, but it still has thermal assets, like diesel and coal facilities, that considerably have high carbon emissions – and plans on their phaseout or fuel shift have yet to be concretized.
Eric Fancia, president and CEO of ACEN, reiterated their company’s commitment to be “at the forefront of energy transition” and that’s done alongside the work that they have been carrying out with partners – including its affiliate firm ALI.
The ACEN chief executive conveyed that the off-take deal with Ayala Land is an “important initiative that will help the Ayala group achieve net zero greenhouse gas emissions by 2050.”
Prior to the partnership, the two Ayala firms were also engaged in trailblazing ACEN’s Sustainability Hub – and that is a pioneering venture in which the Alaminos solar plant had been surrounded by the ‘carbon forest’ of Ayala Land; and in that innovative endeavor, there is a woodland reserve “that acts as carbon trap and home to biodiversity.”
In that particular undertaking, ACEN has partnered with Green Antz, the same company which operates Ayala Land’s recycling facility at the Arca South ecohub, which is a pilot ‘circular approach’ integrating plastic waste management system.
ACEN said it will be recreating the Sustainability Hub “and close the loop through the development of Community Ecohub recycling facilities within its project locations” – and that will be aligned with key goals primarily in protecting the environment; job creation for the country’s economic resuscitation; as well as reinforcing host community engagement.