ACEN, GenZero, And Keppel To Collaborate On Early Retirement Of Coal-Fired Power Plant

ACEN, GenZero, and Keppel Ltd. (Keppel) have signed a Memorandum of Understanding (MOU) to explore the early retirement of the South Luzon Thermal Energy Corporation (SLTEC) coal-fired power plant (CFPP) in Batangas, Philippines, and its replacement with a clean energy facility.

This ACEN-led pioneering initiative, which aims to generate Transition Credits (TCs), reflects the partners’ commitment to accelerating the transition to clean energy in Southeast Asia. I Photo: ACEN Facebook

This pioneering initiative, which aims to generate Transition Credits (TCs), reflects the partners’ commitment to accelerating the transition to clean energy in Southeast Asia.

CFPPs are a major source of carbon emissions globally, and Southeast Asia has one of the youngest CFPP fleets, making early retirement crucial for meeting global net-zero targets by 2050.

The project involves a development study to utilize TCs for the decommissioning of the 246 MW SLTEC CFPP by 2030, ten years ahead of its original schedule. The initiative will also focus on just transition strategies, including workforce retraining and community support.

Keppel’s Infrastructure Division CEO Cindy Lim expressed the company’s excitement about this collaboration, highlighting the potential of TCs as a catalyst for the clean energy transition.

GenZero CEO Frederick Teo emphasized the importance of cross-border collaboration in achieving decarbonization objectives, while ACEN CEO Eric Francia underscored the significance of this initiative for the Philippines and its potential as a model for global energy transition efforts.

The project will also explore the development of an Integrated Renewables and Energy Storage System (IRESS) to replace the baseload of the retired CFPP, integrating solar power and battery storage to ensure a reliable energy supply.