By Danessa Rivera (The
Philippine Star) | Updated January 12, 2017 - 12:00am
MANILA, Philippines – AC Energy
Holdings Inc. of the Ayala Group has sealed a deal to develop a $150-million,
75-megawatt (MW) wind power project in Indonesia.
In a disclosure to the Philippine
Stock Exchange yesterday, Ayala Corp. said wholly-owned energy unit signed
investment agreements with UPC Renewables Indonesia Ltd. for the development,
construction and operation of a wind project in Sidrap, South Sulawesi,
Indonesia.
The company said the wind farm will
be developed through PT UPC Sidrap Bayu Energi, a special purpose company based
in Indonesia.
The Sidrap project will have a
generating capacity of 75 MW and is targeted for completion by the end-2017,
making it the first utility-scale wind farm project in Indonesia once
completed.
The project will also be AC Energy’s
first greenfield offshore investment through its affiliate AC Energy
International Holdings Pte Ltd., a Singapore private limited company.
Ayala Corp. said the Sidrap project
will be funded through equity and project financing to be provided by the
Overseas Private Investment Corp., the US government’s development finance
institution, and PT Bank Sumitomo Mitsui Indonesia, the Indonesian subsidiary
of the Sumitomo Mitsui Banking Corp. of Japan.
UPC Renewables is a leading global
energy player that develops, finances, constructs, owns, and operates a
portfolio of wind power generation assets. The company and its proponents have
successfully developed and operated renewable energy projects in Italy, the
USA, Canada, China and the Philippines.
UPC Renewables and AC Energy have
previously forged a partnership under North Luzon Renewable Energy Corp., the
owner and operator of the 81-MW Caparispisan wind farm project in Pagudpud,
Ilocos Norte.
No comments:
Post a Comment