Exactly ten years ago today, we established the AC Energy brand and organization, with the hope of addressing the country’s energy needs and building a new pillar for the Ayala group.
We set out what was then a bold vision of establishing an energy platform with 1000MW of capacity in five years, from a standing start with zero MW. We assembled a core group of five people from the Ayala group, none of whom had energy experience.
With the strong backing of Ayala Corporation and successful nurturing of strategic partnerships, AC Energy rapidly scaled up and reached the desired scale and profitability in five years.
Soon thereafter, from an overweighting on the domestic and thermal business, the Company strategically pivoted and focused on renewables and regional expansion. It also carried out strategic acquisitions to establish development and operating capabilities.
Serendipitously on its tenth anniversary week, AC Energy conducts its public offering through the Follow On Offering of its listed platform AC Energy Corporation (ACEN). Through ACEN, AC Energy has grown to an 800-person strong organization, an implied market value of over 5bn USD and 2,500 MW of attributable capacity (after the infusion of international assets), of which 78% comes from renewables source. The company is well poised to surpass its goal of reaching 5,000MW of renewables by 2025, and realize its aspiration of becoming the Largest Listed Renewables Platform in Southeast Asia.
We’ve come a very very long way, and it has been quite an amazing journey to say the least. My heartfelt thanks to all our Shareholders, Partners, Directors, Management and the People of AC Energy. You have all made this improbable journey possible. I very much look forward to the next ten years and beyond, with so much to be accomplished amidst the global energy transition.
12 May 2021