ACEN, the listed energy platform of the Ayala group, announced its partnership with The Rockefeller Foundation’s Coal to Clean Credit Initiative (CCCI) and the Monetary Authority of Singapore (MAS) to explore a major step towards accelerating the phase-out of coal plants in line with the Paris Agreement.
ACEN is the renewable energy platform of the Ayala group. In 2019, Ayala acquired a listed energy platform and thereafter infused its Philippine renewable operating assets and development pipeline. The combination resulted in 532MW of generation portfolio in the Philippines, consisting of a 246MW Coal fired power plants (CFPP), 134MW of various diesel plants, and 152MW…
A global alliance to transform energy. At the #COP28, we joined the Powering Past Coal Alliance (PPCA), a growing coalition of countries, businesses and organizations committed to advance the transition away from unabated coal to clean energy. Read more: https://bit.ly/ACEN_PPCA
In the #COP28 energy session co-hosted by the Department of Energy Philippines and the Asian Development Bank, our CEO Eric Francia joined a discussion exploring the prospects and hurdles in executing the energy transition in our country. Speaking for the private sector, Eric said that scaling up renewables needs significant capital from ESG-focused investors and…
At COP26 we announced the Coal Asset Transition Accelerator, or CATA, a philanthropically funded initiative designed to help meet these needs with a particular focus on the role of finance. CATA’s three core partners, the Carbon Trust, Climate Smart Ventures and RMI, aim to drive collaboration and accelerate the development of Coal Transition Mechanisms (CTMs)…
At the recent #COP28, our CEO Eric Francia highlighted how Transition Credits can help close the gap in efficiently utilizing the grid in order to supply clean and affordable electricity to the consumers. He also underscored that while pioneering early coal retirement is a tall order, it has to be done in a just and…
#COP28: “The Philippine Department of Energy strongly applauds ACEN in pioneering the voluntary retirement of its 246 MW SLTEC coal plant. This is consistent with our view that it must be voluntary and must make business sense in a power sector like the Philippines that is privately-owned, market driven and un-subsidized,” said Department of Energy…
#COP28: Our CEO Eric Francia, in a discourse with other Coal to Clean Credit Initiative panelists, pointed out that lost generation from early coal phasedown needs to be replaced by clean, reliable, dispatchable and affordable energy so as not to disturb the grid.
At the #COP28 Singapore Pavilion, our CEO Eric Francia emphasized that we need to ensure clean, reliable and affordable energy replacement in further accelerating the coal plant’s retirement by a decade using Transition Credits. “We cannot just shut down a coal plant by 2030. We need to replace that with an integrated renewable and energy…
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