^

Stock Commentary

ACEN's audacious plan for 20 GW of renewables by 2030

Merkado Barkada
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 is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.
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.

AC ENERGY CORP.

AYALA CORP.

PHILIPPINE STOCK EXCHANGE

Philstar
  • Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with