Nickel Asia Corp. (NAC) on Friday said its renewable energy (RE) subsidiary Emerging Power, Inc. (EPI) remains “on track” to achieve its 1-gigawatt (GW) target by 2028.
The clarification was issued following an Aug. 9 BusinessWorld report headlined “Nickel Asia’s Emerging Power delays 500-MW goal to 2026,” which has now been taken down.
“We would like to reiterate that our target commitment through Emerging Power, Inc. (EPI), our subsidiary, is for our renewable energy projects to target a 1GW capacity by 2028,” NAC said.
The company said that Emerging Power is “not delayed and in fact we are on track to reach this because EPI’s subsidiary Jobin-SQM Inc. has a 172-MW Solar Plant already in operation.”
NAC further noted, “By next year we will have two more projects coming online such as our solar projects located in Subic Cawag that will have a capacity of up to 145 MW and the Phase 1 of our San Isidro Solar Project, which is planned to be operating at a 2 x 120 MW capacity.”
NAC added that these upcoming projects are critical milestones that bring Emerging Power closer to its goal of achieving 1-GW capacity by 2028.
The company also corrected a detail in the previous report, which said that NAC’s annual stockholders’ meeting occurred this week. It clarified that the meeting was actually held on June 7, 2024.
BusinessWorld acknowledges these clarifications provided by Nickel Asia.—Adrian H. Halili
