AC Energy, Ayala Corporation’s power generation arm, and partner AMI Renewables, recently held a groundbreaking ceremony to celebrate the start of construction of the landmark 210 MW wind facility in Quang Binh, a province in Vietnam with a huge potential in renewable energy. The wind farm is expected to be fully operational by the third quarter of 2021.
With officials from AC Energy joining by a video call platform, representatives from AMI Renewables, along with invited guests from the national government of Vietnam and the Quang Binh government, celebrated the milestone with a kick-off event at the Sun Spa Resort in Quang Binh. Representatives from Rizal Commercial Banking Corporation and RCBC Capital Corporation also joined the event virtually.
“This is the third renewable energy project being developed by AMI\AC Renewables. With a goal of developing and operating 1,000 MW of renewable energy by 2025, our strategy is to focus on implementing large scale wind power projects, generate revenue for the province, and promote the socio-economic activity on Quang Binh,” said Nguyen Nam Thang, Chairman of AMI Renewables.
“We are very excited to be part of the Vietnam government’s strong push for renewables and welcome the opportunity to support the renewable energy future of the country,” said Jaime Augusto Zobel de Ayala, Chairman of Ayala Corporation. “AC Energy has an aggressive long-term aspiration to build a meaningful portfolio in renewable energy and has identified Vietnam as one of its priority markets. We hope to deepen our involvement in Vietnam’s energy sector in the coming years and be able to contribute to creating an environmentally sustainable future.”
AC Energy President and CEO Eric Francia said, “Quang Binh holds a huge potential for renewable energy, and we are very excited to be developing the 210 MW Quang Binh wind farm with AMI Renewables, and fully harness wind power in this province. As we aspire to make a difference and improve lives through reliable, affordable and sustainable power, we aim for our projects to be transformative, and contribute in ensuring Vietnam’s national energy security, create jobs, and aid in the socio-economic development of the communities where we operate.”
In 2017, AC Energy and AMI Renewables formed a platform company, AMI\AC Renewables, to build renewable energy plants in Vietnam. In April 2019, AC Energy and AMI Renewables switched on two solar plants, the 50 MW Khanh Hoa and the 30 MW Dak Lak solar farms.
With its strong balance sheet and robust pipeline, AC Energy is in an excellent position to reach 5,000 MW of renewables capacity by 2025 and realize its aspiration to be the largest listed renewables platform in Southeast Asia.