AC Energy and UPC Renewables strengthen partnership to develop tallest turbines in Vietnam




Ayala Corporation’s power generation arm, AC Energy, together with UPC Renewables, is expanding their successful partnership to another country. The joint venture to develop two wind projects, Lac Hoa and Hoa Dong in the Soc Trang province of southern Vietnam, has commenced construction, with aggregate capacity at 60 MW.

The projects will utilize wind turbines from Vestas delivered in different power ratings with sitespecific towers for both projects. To maximize energy yields on both sites, the turbines will feature a record hub height of 162 m, making them the tallest in Vietnam to date.

“This project features the tallest towers in Vietnam and showcases Vestas’ ability to optimize the value proposition for our client and develop site-specific solutions for all wind sites.” said Clive Turton, President of Vestas Asia Pacific. When asked about their partnership with AC Energy, Brian Caffyn, Chairman and CEO of UPC Renewables, said “We look forward to building these innovative projects in Vietnam as our first projects in country in partnership with AC Energy. 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.” 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.

Meanwhile, Patrice Clausse, Chief Operating Officer of AC Energy International, lauds 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.”

AC Energy will participate in both projects with a 50% voting stake through its wholly-owned subsidiary, AC Energy Vietnam Investments 2 Pte. Ltd. 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, Philippines. 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.