ACEN's audacious plan for 20 GW of renewables by 2030
ACEN Corp [ACEN 8.90 0.45%] [link], a subsidiary of Ayala Corp [AC 715.00 2.58%], outlined its plan to grow its renewable energy portfolio to 20 gigawatts (GW) by 2030.
ACEN notes that this plan represents a 488% increase from its current portfolio of 3.4 GW of renewable energy capacity, but says that it has 18 GW of projects in its pipeline in the South East Asian region that can be used to satisfy the goal.
The company said that it expects to develop approximately 10 GW of new capacity abroad, and about 6.6 GW of new capacity in the Philippines.
This distribution would keep ACEN’s portfolio allocation for the Philippines at 40%.
While ACEN plans to build new projects in typical growth markets like Vietnam, Indonesia, and India, the company said that it plans for Australia to become its second-largest portfolio country over the next 8 years.
MB BOTTOM-LINE
Regardless of where ACEN builds, it’s doing so within the context of a market that is hungry for renewable sources of energy that do not depend on fossil fuels.
In part because the price of fossil fuels has gone up considerably and is volatile, but also because of the geo-political realities that have more-clearly shown themselves recently.
Renewable energy is a huge pillar of a country’s energy self-sufficiency, and ACEN is now putting itself out there as the group best-situated to help all the countries in our region develop additional capacity.
--
Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
- Latest
