Source: BusinessWorld 13 September 2019 – MANILA Electric Co. (Meralco) has awarded power supply agreements (PSA) covering 1,200 megawatts (MW) to units of San Miguel Corp. (SMC) and Ayala’s AC Energy, Inc. In a disclosure to the stock exchange on Thursday, the listed company identified the winning bidders during the competitive selection process (CSP) for…
Source: Renewables Now 4 October 2019 – AC Energy Inc, part of the Philippines’ Ayala Corp (PSE:AC), has set up a joint venture with the solar power platform of UPC Renewables to develop and build over 1 GW of renewable energy plants in the Asia Pacific. AC Energy will invest in the development of the…
Source: Business Mirror 21 August 2019 – ACE Enexor Inc., formerly Phinma Petroleum and Geothermal Inc. (PPG), wants to bring in a strategic partner to aid the company in its future exploration plans. “We may be bringing in partners in the future. I think the idea is, over time, we will bring in at least one…
Source: BusinessWorld 14 August 2019 – EARNINGS of Ayala Corp. (AC) more than doubled in the first half of 2019, boosted by divestment gains from its education and energy businesses. In a regulatory filing, the listed conglomerate said net income attributable to the parent grew 135% to P37.84 billion in the six-month period. Revenues also…
Source: PhilStar 16 February 2019 – MANILA, Philippines — AC Energy and Infrastructure Inc. (ACEIC) and its partner have secured financing from three banks for their mega solar project in Australia, with plans to add battery storage facility. UPCAC Renewables Australia, the joint venture of ACEIC and UPC Renewables, has reached financial close for the…
Source: PhilStar 12 February 2019 – MANILA, Philippines — AC Energy Inc., the energy platform of the Ayala conglomerate, has finalized a deal with the Phinma Group to acquire the latter’s power business for a total of P6 billion. In separate disclosures yesterday, Ayala Corp. and Phinma Corp. said they signed the investment agreement last…
Source: PhilStar 6 February 2019 – MANILA, Philippines — AC Energy Inc., the energy platform of the Ayala conglomerate, has received the backing of two of the world’s largest development institutions, raising a total of $410 million from the issuance of green bonds. International Finance Corp. provided an anchor investment of $75 million to complete…
Source: Philippine Daily Inquirer 10 January 2019 – The Ayala group is ramping up its energy business by acquiring a 51.48-percent stake in Phinma Energy Corp., to help reach its renewables goals. AC Energy signed with Phinma Corp. a strategic agreement that paved the way for the former to acquire a majority position in Phinma…
Source: BusinessWorld 3 January 2019 – AYALA-LED AC Energy, Inc. is looking at its retail electricity supply (RES) unit as a long-term business whose growth in the near term is meant largely to establish a respectable customer base, its top official said. “We don’t want to grow for growth’s sake because this is a long-term…
MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is bent on aggressively growing its renewable energy portfolio to become an even bigger RE player in the country and beyond, its president and COO Fernando Zobel de Ayala told The STAR. In an email interview, Zobel said the company’s renewable energy investments have been growing fast. Thus, the…
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