Listed conglomerate Ayala Corp. is scouting for new sites for its power plants as it plans to expand its power portfolio to an aggregate of 1,000 megawatts by 2016 from about 700 MW at present.
Ayala managing director John Eric Francia said they “definitely want to expand existing power projects” which include wind and coal-fired plants.
“Our wind platforms have an opportunity to expand their capacity. Some of our coal-fired power plants have the opportunity to expand as well,” he said.
The target capacity could rise to 1,500 MW after 2016 depending on the results of a review of the company’s long-term development plan, he said.
Francia said the company expects power projects to contribute at least 10 percent to their equity earnings by 2020.
“Hopefully there would be some contribution this year, but a lot of our power plants are still scheduled for completion this year,” he said.
The Ayala Group, through AC Energy Holdings Inc., is pursuing several power projects with a combined capacity of 2,000 MW by 2016.
Ayala has tapped GN Power Kauswagan Ltd Co., South Luzon Energy Corp. (SLTEC), and Northwind Power Development Corp. as partners for their power projects.
The conglomerate is constructing a 600-MW coal-fired plant in Kauswagan, Lanao del Norte and expanding a 660-MW coal-fired plant in Mariveles, Bataan.
To raise their power portfolio significantly above 1,000 MW, Francia said they are looking for new locations for power plants.
“We would need to have new locations for power plants, as much as possible near our existing plants, where it is so much better because you already know the community,” said Francia.