Gigasol 1 Inc., a subsidiary of ACEN Corp., wants to increase the capacity of its solar power facility in Zambales to 225.909-megawatt peak (MWp) from 95 MWp for P13.39 billion.
The proposed expansion project will involve installation of PV modules, inverters, and main switchyard in Barangay Burgos, Botohan. Testing and commissioning of the solar project could happen in September 2027, with commercial operations expected to start by December 2027.
‘The Gigasol1 solar power plant project aims to achieve sustainable development and supply electricity to the Luzon grid to address the expected lack of supply and increasing demand for power.
Aside from employment opportunities that the project presents, the project intends to construct a means to harness clean and renewable energy for Luzon,’ the company said in a filing with the Environmental Management Bureau.
Luzon is growing at a fast pace, resulting in a projected shortfall in generating capacity, thereby creating an attractive opportunity for solar development in Zambales, added the company.
The expansion also includes the development of a 14-kilometer access road traversing barangays Poonbato and Burgos, which will support the expanded operations of the solar facility.
Gigasol1 said it will draw its expertise from previous projects in selecting technology providers and new developments in the solar technology implemented in the country in recent years.
Last August, ACEN reported that its consolidated net income declined by 88 percent year-on-year to P763 million mainly due to a P2.7-billion impairment relating to the relating to the Lac Hoa and Hoa Dong wind farms in Vietnam.
Excluding this one-off booking and the P1.35-billion valuation gain in 2024, net income fell 24 percent over the same period, due to depressed Wholesale Electricity Spot Market prices and increased depreciation effects.
‘Despite these headwinds, attributable renewables output grew 9 percent year-on-year to 3,228 GWh [gigawatt hours], driven by new contributions from international plants.’
Last December, the company said its capital expenditures (capex) for this year could increase to P70 billion from P50 billion in 2024.
‘We are forecasting P50 billion in capex across all geographies for fiscal year 2024. In 2025, we expect to spend roughly P70 billion,’ said ACEN President and CEO Eric Francia. The amount will be used to achieve its goal of having 20 gigawatts (GW) of renewable energy capacity by 2030.