Ayala-led ACEN Corporation has announced plans to develop offshore wind power projects in the Philippines and Vietnam.
According to the company, it will develop projects for the Philippine and Vietnamese energy market.
The ACEN Chief Development Officer Jose Maria Zabaleta informed, “Offshore wind is one of the technologies we’re currently exploring. We have identified possible sites in the Philippines and Vietnam where we are currently pursuing studies and pre-development work.”
"ACEN has already secured wind energy service contracts for sites in Batangas and Manila Bay in the Philippines," he further stated.
As per the local reports, "Ayala cornered renewable energy service contracts for 1,024MW Calatagan offshore wind installation under its corporate vehicle Giga Ace7 and the 1,248MW Manila Bay offshore wind venture under Gigawind5 subsidiary."
Furthermore, the company is dwelling on commercial viability of the offshore wind prospects amid rising energy prices in the market.
“Energy and material prices are currently elevated while some prospective project sites may require us to build additional transmission lines, roads and land,” Zabaleta was quoted in a report.
Meanwhile, Ayala group earlier announced its fortified 18,000MW pipeline of RE projects in the Asian region.
It's a part of its target of achieving 5,000MW of renewable energy installations in different countries like Vietnam, Australia, India and the Philippines by 2025.
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