AC Energy’s Wind Farms Receive FIT Compliance Certificate

Makati–(PHStocks)–AC Energy Holdings Inc.’s (AC Energy) wind farms in Bangui and Caparispisan, Ilocos Norte recently received their Feed-in-Tariff Certificate of Compliance or FIT COC from the Energy Regulatory Commission (ERC). This entitles both its 19MW wind farm expansion in Bangui, under Northwind Power Development Corp. (Northwind), and its 81MW wind farm in Caparispisan, Pagudpud under North Luzon Renewable Energy Corp. (North Luzon Renewables) to a feed-in-tariff (FIT) of PhP8.53 per kilowatt hour for a period of 20 years.

The FIT rate covers the period October 10, 2014 to October 9, 2034 for Northwind’s 19MW and November 11, 2014 to November 10, 2034 for North Luzon Renewables’ 81MW.

In 2014, the Department of Energy issued a Certificate of Endorsement for FIT for both wind farm projects after these were commissioned and started commercial operations.

Northwind’s 19-MW expansion was completed last October 2014 and has since been delivering power to the grid. The expansion puts Northwind’s total capacity to 52MW. North Luzon Renewables also completed its 81MW wind farm and has likewise been operational since November 2014. Combined, Northwind and North Luzon Renewables put Ayala’s total wind power capacity at 133MW, which is one of the largest in the country today.

AC Energy President & CEO Eric Francia said, “The completion of these projects is quite timely given the anticipated tightness in power supply this year. We hope to further expand our renewable energy portfolio and help increase the share of renewables in the country’s energy mix. ”

Since 2011, Ayala Corp. (PSE: AC) has committed over US$700 million in equity to develop conventional and renewable energy sources. AC Energy has currently assembled 700+ megawatts of attributable capacity, putting the company closer towards achieving its target of assembling over 1,000 MW of attributable capacity from power plants by 2016.

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