ACEN Targets 4th Green Energy Auction for New Opportunities

Philippines based firm, ACEN Corp., the energy subsidiary of the Ayala group, is contemplating participation in the fourth round of the Green Energy Auction (GEA-4). The auction, slated for the fourth quarter of this year, will focus on integrated renewable energy and energy storage systems (IRESS).

ACEN President and CEO, Eric T. Francia indicated the company's interest, contingent upon the final details of the auction, including its size, rules, and timeline. The Department of Energy (DoE) has outlined that GEA-4 will encompass projects combining renewable energy technologies with energy storage systems such as batteries, flywheels, or pumped storage hydropower. This approach aims to create a more stable and reliable energy supply by integrating storage solutions with renewable power sources.

Francia emphasised that ACEN’s participation will depend on the specific rules and duration of the auction. “Constructing an IRESS is complex. If the timeline is limited to one year, it may be challenging unless you already have a functioning renewable plant and only need to add storage capabilities,” he said. This underscores the intricate nature of developing such integrated systems and the need for a feasible timeline.

Currently, ACEN boasts around 4.7 GW of attributable capacity across multiple countries, including the Philippines, Vietnam, Indonesia, India, and Australia. The company also has one GW of signed agreements and secured competitive tenders. Despite having a head start in the sector, not all of ACEN’s projects are ready for immediate implementation.

The DoE is expected to release the indicative timeline for GEA-4 soon, along with a notice of auction. The GEA program, which began in 2022, aims to enhance the adoption of renewable energy through competitive bidding, with previous rounds generating substantial interest and capacity awards.