Published January 23, 2017, 10:01 PM By Myrna M. Velasco
With another prospective acquisition, the Ayala group indicated that it is further reinforcing its investment platform on renewable energy (RE) ventures.
According to AC Energy Holdings President John Eric T. Francia, the company is currently negotiating for a new deal on RE acquisition, which it targets to conclude “in the next few weeks.”
Expanding the company’s RE portfolio, he qualified, is part of the reinforcement plans on their investment path for clean energy technologies, primarily arrays of renewable energy developments that could either be wind, hydro, or other technologies.
“We’re still on active lookout for potential acquisitions…we’re just finalizing stuff and you’ll know it soon,” he told reporters.
Francia was also asked on what is the specific technology for this targeted asset buy-in, but he was tight-lipped when pressed by media for details.
Notably, the latest announcement from the company on this sphere is the 75-megawatt wind farm development in South Sulawesi, Indonesia – entailing project funding of $150 million.
The company subsequently announced that it opted out from prospective hydropower ventures that it should have carried to implementation phases with partner Sta Clara International Corporation.
Moving headway with its targeted 2,000MW capacity by year 2020, the Ayala group has unyieldingly set that it will be pursuing developments both on conventional and RE technologies.
The company has its own portfolio of wind power projects in the country – the 52-MW Bangui and 81MW Caparispisan wind farms in Ilocos Norte.
Conversely, the company is now advancing to various construction phases its coal-fired power projects that it had cast on blueprint with GNPower. And particularly for its Dinginin power project in Bataan, this is targeted for completion with a new partner in Aboitiz Group.