AC Energy is the energy platform of Ayala, one of the largest business groups in the Philippines. AC Energy is one of the fastest growing energy companies with ~US$2 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region.
From a strong local base, AC Energy is expanding rapidly around the region through strategic partnerships and greenfield initiatives. The company aspires to exceed 5 GW of renewables capacity and generate at least 50% energy output from renewables by 2025. In 2019, AC Energy’s power portfolio registered an attributable capacity of over 1.8 GW in operation and under construction, spanning projects in the Philippines, Indonesia and Vietnam.
The company increased its attributable energy output in 2019 by 25% to 3,500 Gigawatt hours, of which 50% came from renewable energy sources.
UPC\AC Renewables Australia is a developer of utility-scale renewable energy projects in Australia, focused on wind, solar, pumped hydro, and energy storage projects. The company was formed in 2016 and now has offices in Hobart, Melbourne, and Sydney. The company’s projects include:
- The New England Solar Farm, a 720MW solar farm near Uralla, New South Wales, which has received planning approval from the Independent Planning Commission of New South Wales in March 2020;
- The Baroota Pumped Hydro Project, a 250MW/2000MWh pumped hydro project in development near Port Pirie, South Australia, that UPC\AC bought a majority stake in from Australian developer Rise Renewables in August 2019; and
- The Robbins Island & Jim’s Plain Renewable Energy Park, a 800-1000MW wind farm in development in Northwest Tasmania.