SINGAPORE: In a significant development, the Philippines-based Acen Corporation and The Rockefeller Foundation announced on April 17 that the first Coal to Clean Credit Initiative pilot project being considered in the Philippines could prevent up to 19 million tonnes of carbon dioxide emissions.
Acen Corporation, which divested from the 246-megawatt SLTEC in 2022, is spearheading efforts to coordinate the plant’s early closure in collaboration with its owners. Acen, a subsidiary of the Ayala Group, is leading the charge in renewable energy development across key markets in the Philippines, Australia, Vietnam, India, and Indonesia. The company is focused on expanding solar and wind power capacities, with a recognition of the need for battery storage integration.We’re going to be building potentially 1,000MW of solar and 250MW of wind . The missing piece, though, is that if we did that, if we stopped there, we would put a lot of strain on the grid.