Published May 19, 2021, 2:38 PM
Given the worsening civil strife tearing down Myanmar, Ayala-led firm AC Energy Corporation indicated that it is temporarily slowing down on its renewable energy ventures in that country.
“Regarding Myanmar, we will have to wait until the situation stabilizes before we can expand,” AC Energy President and CEO Eric T. Francia said.
Eric Francia, president and CEO of AC Energy Inc. of the Ayala group
He nevertheless qualified that despite the conflict-ridden situation of Myanmar these days, “we remain hopeful and still recognize the country’s long term potential.”
It was in October 2019 when the Ayala firm made pronouncements on the joint venture deal it cemented with Yoma Strategic Holdings Ltd., its partner for that specific offshore market.