Ayala unit to help develop 2 wind farms in Vietnam
By Lenie Lectura – June 9, 2020
from Business Mirror
AC Energy Inc. and UPC Renewables Group will jointly develop two wind power projects with an aggregate capacity of 60 megawatts (MW) in Vietnam.
The wind power projects—Lac Hoa and Hoa Dong—are in Vietnam’s Soc Trang province.
The projects will utilize wind turbines from Vestas. The turbines will feature a record hub height of 162 meters, making them the tallest in Vietnam to date.
With the aim of qualifying for the current round for wind feed-in-tariff of 8.5 US cents per kWh, both projects are set be commissioned in the third quarter of 2021.
AC Energy, the power arm of conglomerate Ayala Corp., will participate in both projects with a 50-percent voting stake through its wholly-owned subsidiary, AC Energy Vietnam Investments 2 Pte. Ltd.
Meanwhile, Vestas Asia Pacific will provide an Active Output Management service agreement for up to 20 years.
The partnership between UPC Renewables and AC Energy started in 2013 during the development, construction and operation of the 81-MW North Luzon Renewables in Pagudpud, Ilocos Norte.
Subsequently in 2018, the two companies developed the first 75 MW utility-scale wind farm in Indonesia. The partnership continues to grow as the two companies also formed development platforms in Australia, India and Vietnam.
“The synergies between UPC Renewables and AC Energy continue to allow us to advance innovative and challenging renewable energy projects in the Asia-Pacific region and we look forward to working with AC Energy again to advance wind energy in Vietnam,” said Brian Caffyn, Chairman and CEO of UPC Renewables.
Meanwhile, Patrice Clausse, Chief Operating Officer of AC Energy International, lauded the new order from Vestas as a game-changer that will enhance the competitiveness of wind energy.
“We have strongly pushed for the adoption of new technologies and best practices to grow our assets in renewables,” said Clausse.
“As always, we are delighted to partner with UPC Renewables as we move towards playing a more significant role in helping Vietnam’s energy security, and become one of the largest listed renewables platforms in Southeast Asia.”
