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House panel releases new details of Trump administration Covid contracts
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Some push to start donating COVID-19 vaccines overseas: The U S will not be completely safe until the entire world is safe
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COMPANY HANDOUT
AYALA-LED AC Energy and Infrastructure Corp. (ACEIC) and its partner UPC Solar Asia Pacific Ltd. have reached financial close for a 100-megawatt (MW) solar farm in India, according to a press release issued by Ayala Corp. on Monday.
ACEIC’s listed parent firm told the stock exchange that the $67-million (around P3.25 billion) Sitara Solar project located in the desert state of Rajasthan, has secured a 20-year loan from the US International Development Finance Corp. (DFC).
It will be funded through a 75:25 debt-to-equity financing scheme.
Ayala described the project as a “major milestone” for its joint venture company UPC-AC Energy Solar, moving the latter closer to its target of achieving over 1 gigawatts of solar energy across Asia.