February 17, 2017 — Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala and AC Energy President and CEO Eric Francia made a courtesy call on Indonesian Ambassador to the Philippines Johny J. Lumintang at the Indonesian Embassy in Makati City.
In December 2016, AC Energy, through a consortium, won the bid for Chevron’s geothermal assets and operations in Indonesia and the Philippines.
In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java, with a combined capacity of 235MW equivalent of steam and 402MW of electricity. In the Philippines, Chevron subsidiaries have a 40 percent equity interest in the Philippine Geothermal Production Company, Inc., which operates the Tiwi and Mak-Ban geothermal field in Southern Luzon and supplies steam to power plants with a combined name plate capacity of around 700MW.
Thereafter, AC Energy broke ground to start construction of a 75 MW wind farm in Indonesia. Last January 2017, AC Energy signed investment agreements with UPC Renewables Indonesia Ltd for the development, construction, and operation of a wind farm project in Sidrap, South Sulawesi, Indonesia (the “Sidrap Project”).
The Sidrap Project is targeted for completion by the end of 2017, and will be the first utility-scale wind farm project in Indonesia once completed. The Sidrap Project is the first greenfield offshore investment of AC Energy, through its affiliate, AC Energy International Holdings Pte Ltd., a Singapore private limited company.
With AC Energy’ s recent investments, its renewable energy portfolio tripled to more than 260MW. This is expected to further quadruple by 2020 and reach 1000MW of renewable energy capacity.
Photo: Jaime Augusto Zobel de Ayala (center) and Eric Francia (Right) meet with Indonesian Ambassador Johny Lumintang