THE ENERGY unit of the country’s oldest conglomerate, Ayala Corp., will meet its goal of generating a combined 1,000 megawatts (MW) from its power plants by 2016 as scheduled, the listed parent company said yesterday.

In a statement, the conglomerate said its subsidiary AC Energy Holdings, Inc. now has an energy portfolio of over 700 MW, and that it would get further boost as more power plants go online. The company last week signed a financing deal for its 540-MW coal-fired power plant in Kauswagan, Lanao del Norte, with construction to start early this year. Ayala had said the facility will be operational by 2017.

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