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.
By Tomas S. Noda III
Called Sidrap Project, it is the first utility-scale wind farm project in Indonesia targeted to have a generating capacity of 75 MW and is expected to be completed before 2017 ends.
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.
With Axia Power, Ayala expects SLTEC thermal power plant to become more technically and financially capable to undertake larger projects in the near future.
AC Energy through its wholly owned subsidiary Presage Corp, acquired an additional 17.79 per cent stake in NorthWind, increasing its effective ownership interest from 50 per cent to 67.79 per cent.
The increased investment would likely involve acquisitions, greenfield project developments, among others, not just in the Philippines but also other nations in Southeast Asia.
The Philippines’ AyalaCorp said it may increase its power generating capacity from a target of 1,000 megawatts and could diversify its coal-dominated electricity output with natural gas, solar or geothermal energy. “If we reach that target, if the returns are good and the business is developing well, then of course… Read more »