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.
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Ayala Corp has boosted anew its power generation assets after acquiring Bronzeoak Clean Energy, a top developer of clean energy projects in the Philippines.
With Axia Power, Ayala expects SLTEC thermal power plant to become more technically and financially capable to undertake larger projects in the near future.
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.
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.
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.
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 »
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 »
Philippine-based conglomerate Ayala Corp has appointed Rene Almendras as president and CEO of its wholly-owned subsidiary AC Infrastructure Holdings Corp, a firm that pursues toll road, rail and airport projects under the government’s public-private partnership program.