Source: PhilStar

20 October 2020 – MANILA, Philippines — AC Energy Inc., the power arm of Ayala Corp. is expanding its footprint in India with the development of a $36 million solar farm through its joint venture with UPC Solar Asia Pacific.

The 70 Megawatt peak (MWp) Paryapt Solar is expected to start power generation in the first half of 2021, and will supply energy to Gujarat Urja Vikas Nigam Ltd., an Indian firm engaged in the bulk purchase and sale of electricity.

“UPC-AC Energy Solar won the power supply agreement for the project via a competitive bid at INR 2.55 per kWh, fixed over a 25-year period,”AC Energy said, referring to its joint venture company with UPC Solar Asia Pacific.