by Myrna Velasco January 28, 2016
The energy unit of the Ayala group
is still keeping its eye on acquisition opportunities in the power sector –
presumably equity take in existing developments.
John Eric T. Francia, president of
AC Energy Holdings, Inc. and head of the Infrastructure Group of Ayala
Corporation, has indicated “we’re looking out for acquisition along the way on
opportunistic basis.”
He added “it’s not really part of
our assumption but that’s another possibility over the next five years.”
Francia was making reference to the
1,000 megawatts portfolio target that they have penciled in – and set for realization
at the completion of their 660-megawatt Diningin coal-fired expansion project
in Mariveles, Bataan.
The Ayala executive further noted
“it’s not only about greenfield, but if there are opportunities to consolidate
then we’ll take a look at that.”
It has to be recalled that Ayala’s
investment foray into the power sector generally leaned initially on “equity
acquisition” at existing projects.
The company had its hand first on
the 33-MW Northwind power facility in Bangui, Ilocos Norte; then what came next
had been its partnership with GNPower in the initial 600MW Mariveles coal-fired
facility in Bataan.
Since then, the wind farm in Ilocos
Norte had been expanded by 18MW; while the Mariveles plant is gearing up also
for capacity boost.
On greenfield development, the Ayala
group’s major credit to-date was the completed 81MW Caparispisan wind farm,
also in Ilocos Norte.
For coal technology, its other
venture – apart from the Diningin plant – is the 540MW Kauswagan coal-fired
power facility for Mindanao grid
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