Gen X Energy, ACE join in on Philippines LNG and hydrogen-fueled plant
Singapore-based Gen X Energy enters into a joint venture with ACE Enexor, a subsidiary of AC Energy, to develop Batangas Clean Energy LNG and green hydrogen powered plant in the Philippines.
Batangas Clean Energy (BCE) is a 1,100 megawatts combined cycle power plant project. It will be capable of using LNG and green hydrogen as its fuel to provide power. Therefore, it is to meet the Philippines’ growing energy demand.
In addition, it is to reduce the country’s reliance on coal fired power generation.
The joint venture will result in Gen X and ACE Enexor each holding a 50 per cent interest in BCE.
Scott Kicker, CEO of Gen X Energy, said: “We are excited about this opportunity to partner with ACE Enexor in the Philippines to meet the energy needs of the Philippines and facilitate the country’s transition to cleaner sustainable sources of energy.”
The project will strategically take place in the Batangas Bay Area of the Philippines. This is close to the load center of Metro Manila.
Gen X Energy will continue holding a 50 per cent interest in BCE through its wholly-owned subsidiary Red Holdings.