AC Energy Corporation (ACEN), a subsidiary of Ayala Corporation, and the Singapore unit of ib vogt have entered a joint venture (JV) to co-develop nearly 300 MWdc of solar power projects in the Philippines. The 300MWdc installation is an initial target set under the terms of the proposed JV agreement, although project sites have yet to be chosen.
As of March 31, 2021, the total number of operational solar energy projects in the Philippines were 270. The country’s renewable energy (RE) projects are established in accordance with the Renewable Energy Act of 2008, which encourages the development, usage, and commercialisation of renewable energy resources.