AC Energy nears completion of 1st wind farm in Indonesia

MANILA, Philippines — Ayala-owned AC Energy Holdings Inc. is targeting to complete its first 75-megawatt (MW) wind project in Indonesia by early 2018.

AC Energy said the construction of the wind project, which is also Indonesia’s first utility-scale wind farm, is on track for nearly 70 percent completion.  The facility is expected to be ready for commercial operations in the first quarter of next year.

Indonesian Energy and Mineral Resources minister Ignasius Jonan as well as local government officials of South Sulawesi and high-ranking officials of the State Electricity Co. visited the site.

PT UPC Sidrap Bayu Energi started the installation of 30 Gamesa G114 2.5-MW wind turbine generators since August.

AC Energy signed a deal with UPC Renewables Indonesia Ltd. in January to develop the $150-million, 75-MW wind power project in Sulawesi, Indonesia.

Funding for the project will come from equity and the Overseas Private Investment Corp., the US government’s development finance institution, and PT Bank Sumitomo Mitsui Indonesia, the Indonesian subsidiary of the Sumitomo Mitsui Banking Corp. of Japan.

The South Sulawesi wind project is AC Energy’s first greenfield offshore investment through  affiliate AC Energy International Holdings Pte Ltd., a Singapore private limited company.

A leading global wind farm developer, UPC Renewables is AC Energy’s partner in North Luzon Renewable Energy Corp., the owner and operator of the 81-MW Caparispisan wind farm project in Pagudpud, Ilocos Norte.

AC Energy is currently expanding its footprint in the Southeast Asian region.

Apart from the 75-MW wind farm project in South Sulawesi, it also has a 20 percent stake in Star Energy  B.V., which acquired Chevron’s geothermal operations in Indonesia.

The Chevron acquisition was a major milestone for the company, which aims to scale up its renewable energy portfolio to 1,000 MW by 2020.

Apart from Indonesia, AC Energy is also eyeing other Southeast Asian markets. Vietnam is the top candidate for its overseas expansion, while the company will be opportunistic in other markets like Myanmar.