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AC Energy says GigaSol Palauig solar farm begins operations

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ABS-CBN News

<p>MANILA - AC Energy Corp said Tuesday its 63-megawatt GigaSol Palauig solar farm has commenced operations and is seen to help supply power to the Luzon grid. </p><p>The P2.39 billion facility in Zambales will generate over 90 million kWh of power, AC Energy said in a disclosure to the stock exchange. </p><p>“The Palauig solar farm is the first of AC Energy’s 5 new plants to begin operating in 2021, making it quite an exciting year for the company’s Philippine operations,” said AC Energy chief development officer Jose Maria P. Zabaleta.</p><p>“This is all the more important as these new plants can help offset some supply shortfalls in recent months, and help to reduce the elevated prices seen in the market caused by these shortages,&quot; Zabaleta added.</p><p>Aside from the Zambales plant, AC Energy said it has also started the construction of another solar farm in Arayat-Mexico, Pampanga. The P2.75 billion 72 MW facility is a joint 50-50 joint venture with Citicore Solar Energy Corp, the Ayala-led group said.</p><p>These developments are part of AC Energy&#x27;s renewables growth strategy and its transformation journey, the company said. It recently posted a net income of P3.75 billion.</p><p>AC Energy said it has over 1,000 MW of attributable capacity in the country, with &quot;almost half&quot; coming from renewable energy sources.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/25/21/ac-energy-buys-solar-philippines-unit-to-speed-up-planned-joint-venture">AC Energy buys Solar Philippines unit to speed up planned joint venture</a></li>	<li><a href="https://news.abs-cbn.com/business/11/27/20/ac-energy-raises-300-m-from-green-bonds-proceeds-to-pay-off-debt-fund-projects">AC Energy raises $300-M from &#x27;green bonds&#x27;, proceeds to pay off debt, fund projects</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1666935" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>AC Energy Corp said Tuesday its 63-megawatt GigaSol Palauig solar farm has commenced operations which would help supply power to the Luzon grid. </p>

AC Energy Corp said Tuesday its 63-megawatt GigaSol Palauig solar farm has commenced operations which would help supply power to the Luzon grid.