9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common
38,225,838,177
11. Indicate the item numbers reported herein
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AC Energy CorporationACEN
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
ACEN and AMI to pilot battery energy storage system in Vietnam
Background/Description of the Disclosure
• The ACEN and AMI joint venture has been awarded a US$2,962,000 grant by the U.S. Consulate General, Ho Chi Minh City • The 15 MWh/7.5 MW Khanh Hoa Energy Storage project will be integrated into the JV’s operating 50 MW solar farm • Aims to maximize the efficiency and reliability of renewable energy towards helping Vietnam achieve its sustainability goals
October 15, 2021 – Vietnam’s pilot utility-scale battery energy storage system (BESS) will soon take shape in Khanh Hoa Province after an agreement was signed today between AMI AC Renewables and the U.S. Consulate in Ho Chi Minh City to formalize a US$2,962,000 grant from the latter to develop the project.
AMI AC Renewables will integrate the 15 MWh/7.5 MW Khanh Hoa Energy Storage project into its operating 50 MW AMI Khanh Hoa solar farm.
The project is expected to demonstrate the technical and economic capabilities of the energy storage technology, and showcase how it can help maximize the efficiency and reliability of renewable energy.
“Energy storage is the key to unlock the potential of renewables and is a vital component of the energy transition,” said Patrice Clausse, Chief Operating Officer of AC Energy International cum Chairman of the AMI AC Renewables Board of Directors. “We are very excited about the opportunities that lie ahead in harnessing this enabling technology, and together with AMI, we will aim to secure Vietnam’s renewable energy sources while helping the country achieve its sustainability goals.”
“We’re delighted to be entrusted by the U.S. Consulate General to pilot and spearhead battery energy storage systems in Vietnam,” said Nguyen Nam Thang, CEO of AMI AC Renewables. “Our solar plant in Khanh Hoa province is an ideal place to demonstrate how energy storage can help Vietnam reach its full renewable energy potential.”
“We are pleased to support Vietnam’s efforts to expand renewable energy generation, and reduce reliance on coal,” said Marie C. Damour, Chargé d’Affaires ad interim. “This project aims to show how cutting-edge U.S. energy storage technology can advance these goals, and catalyze Vietnam’s transition to a clean energy economy for a climate-resilient future.”
Other Relevant Information
About AMI AC Renewables AMI AC Renewables, a joint venture between AC Energy (ACEN) and AMI Renewables, is a renewable energy platform in Vietnam. The joint venture currently has 80 MWp of solar capacity in operation in Khanh Hoa Province and Dak Lak Province and is constructing the 252 MW B&T Wind Farm in Quang Binh Province, one of the largest wind farms in Vietnam. AMI AC Renewables is aiming to build a renewable energy pipeline of 2,000 MW in Vietnam.
About ACEN
AC Energy Corporation (PSE: ACEN) is the listed energy platform of the Ayala Group. The company has ~2,600 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia. The company’s renewable share of capacity is at 80%, among the highest in the region.
ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5,000 MW of renewables capacity by 2025.
www.acenergy.com.ph
For inquiries and more information, please contact:
Irene Maranan Head – Corporate Communications and Sustainability Email : [email protected]
AC Energy CorporationACEN