Ayala’s power unit AC Energy Holdings Inc signed definitive documents to sell all of its ownership stake in each of QuadRiver Energy Corp, Philnew Hydro Power Corp, and PhilnewRiver Corp to Sta. Clara Group Inc.
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The acquisition is seen as a major milestone for AC Energy as it scales up its renewable energy platform and establishes its presence in Indonesia.
Among the oil and gas sub-sectors, exploration and production assets accounted for almost half of asset sales by value and 42 per cent by volume between 2014 and Q1 2016.
The bidding groups comprised of local and foreign investors.
Actis wants to repeat the success of its existing Indian renewable energy platform Ostro Energy.
JPMorgan holds about 75% stake in Leap Green Energy.
Amplus is backed by US private equity firm I Squared Capital.
Singapore Power and an alliance of other utilities firms have launched a global accelerator programme targeting energy startups.
Indonesian petrochemical firm Barito Pacific has announced plans to acquire “majority shares” in affiliated-entity Star Energy Group Holdings Pte Ltd for an undisclosed amount. The company said that it has signed a memorandum of understanding (MoU) with Star Energy that will be followed by a conditional sale and purchase agreement…. Read more »
DONG Energy has entered into an agreement to sell 50 per cent of Race Bank, a 573 megawatt (MW) UK offshore wind farm project, to Macquarie Group in a deal valued at approx. GBP 1.6 billion ($1.97 billion).