(Bloomberg) -- ACEN Corp., the energy unit of Philippine conglomerate Ayala Corp., expects to spend $15 billion to quadruple its renewable power generation capacity to 20,000 megawatts by 2030, Chief Executive Officer Eric Francia said.

ACEN is on full-speed expansion with its wind and solar projects, of which some will be in the Philippines where supply is tight, Francia said in an interview with Bloomberg Television’s Haslinda Amin. About $6 billion will be spent in the southeast Asian nation in the next six years, he said. 

The company will “calibrate the growth” after achieving its 5,000MW of capacity two years ahead of schedule, he said.

“With rising interest rates, you just need to plan ahead, and when the rates taper, that’s when you step up the gas pedal again,” Francia said. 

Apart from the Philippines, ACEN has businesses in Australia, Vietnam, India, and Indonesia. Its diversified footprint affords the company to manage risks, including foreign exchange volatility, Francia said.

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--With assistance from Anand Menon.

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