1. Date of Report (Date of earliest event reported)
Aug 10, 2021
2. SEC Identification Number
3. BIR Tax Identification No.
4. Exact name of issuer as specified in its charter
AC Energy Corporation
5. Province, country or other jurisdiction of incorporation
Makati City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
4th Floor, 6750 Office Tower, Ayala Avenue, Makati City Postal Code 1226
8. Issuer's telephone number, including area code
(02) 7730 6300
9. Former name or former address, if changed since last report
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

AC Energy’s 210 MWp maiden solar farms in India begin operations

Background/Description of the Disclosure

AC Energy Corporation (PSE: ACEN) and UPC Solar Asia Pacific through its the joint venture company UPC-AC Energy Solar, announced the start of commercial operations of its two maiden solar farms in India, the 140 MWp (100 MWac) Sitara Solar and 70 MWp (50 MWac) Paryapt Solar.

UPC-AC Energy Solar is poised for a landmark year, with the company gearing up to start the construction of 420 MWp (300 MWac) more of solar assets in India within the year.

In July 2020, UPC-AC Energy Solar announced the commencement of construction of Sitara Solar located in the Jodhpur District of the State of Rajasthan, a desert state with the highest irradiation in India, that will supply energy to the Solar Energy Corporation of India. This was followed closely by the start of construction of Paryapt Solar, a solar farm set in the Amreli District of the State of Gujarat, one of the first states to develop solar generation capacity in the country.

The development of the solar facilities involved an investment of around US$100 million. With an aggregate capacity of 210 MWp, the solar farms are comprised of more than 466,000 solar panels which are capable to produce around 358 GWh annually, or an estimated 323,990 metric tonnes of CO2e avoided.

The milestone was no small feat given the worsening pandemic situation in India, where the COVID-19 variant caused mass devastation, slowed the economy, and disrupted supply chains. To sustain the plants’ development, UPC-AC Energy Solar has implemented safety protocols at the site, with the aim to ensure the health and overall well-being of all the plant workers.

Other Relevant Information

Please see attached press release.

Filed on behalf by:
Name Alan Ascalon
Designation Vice President/ Asst. Corporate Secretary