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ACEN Corp., the Ayala Group’s listed energy platform, said Thursday transition credits can pave the way for the early retirement of coal plants and replace them with renewable energy, its top official said.
ACEN, GenZero and Keppel Ltd. are exploring the utilization of transition credits to accelerate the retirement of the 246-megawatt South Luzon Thermal Energy Corp. coal-fired power plant in Batangas and replace it with a clean energy dispatch facility. Francia also underscored the importance of a just transition that protects vulnerable communities during the shift from coal to clean energy during the forum panel discussion.
ACEN joined the Climate Week NYC, the biggest annual climate event of its kind, with leaders from the world of business, tech, politics, academia and civil society. The company’s participation reinforces its pioneering role in the coal-to-clean energy transition through the use of transition credits.
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