ACEN Corporation is set to invest $1.5 billion in a groundbreaking solar farm and energy storage initiative, reinforcing its commitment to renewable energy growth. According to reports from Inquirer, this project will integrate a 1,400-megawatt peak (MWp) solar plant with a 1,600 megawatt-hour (MWh) battery energy storage system. This large-scale development is part of ACEN’s plan to transition away from coal power and stabilize grid energy supplies.
The initiative will replace the 246-MW South Luzon Thermal Energy Corporation (SLTEC) coal plant in Batangas, which ACEN aims to retire by 2030—a decade ahead of its original schedule. Irene Manahan, ACEN’s senior vice president and head of corporate communications and sustainability, highlighted that this project is strategically "oversized" to ensure stable and reliable power for the grid.
Funding and Innovation
Funding will partly be sourced from the sale of transition credits, a financial tool designed to support the retirement of coal plants while fostering the growth of renewable energy infrastructure. ACEN has pioneered this approach in collaboration with the Rockefeller Foundation and the Monetary Authority of Singapore. Additional investments will come from partners such as Temasek and Keppel Ltd., based in Singapore.
Project Timeline and Objectives
Construction is expected to commence between 2027 and 2028, with initial phases operational by 2030. The project aligns with ACEN’s broader ambition of expanding its renewable energy portfolio from the current 6.8 GW to 20 GW by 2030.
Location and Coordination
While the exact site for the project is yet to be finalized, ACEN is actively working with the Department of Energy (DOE) to secure the necessary approvals and notices to proceed.
This ambitious project not only demonstrates ACEN’s dedication to accelerating clean energy adoption but also positions the company as a leader in Southeast Asia’s energy transition.
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