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Ayala-led AC Energy Corporation (ACEN) is acquiring for US$243.3 million the equity stake of its partner UPC Renewables Asia Pacific Holdings in their Australian corporate vehicle for renewable energy (RE) projects. In a statement to the media, the Ayala firm said it will acquire the 51.6 percent s
February 16, 2021 | 12:07 am Font Size AAA THE Ayala group and its Australian partner have secured AU$619 million, or around P23.1 billion, in bank financing for a 400-megawatt (MW) solar farm project in New South Wales. In a press release on Monday, listed firm AC Energy Corp. said Australian banks Westpac and Commonwealth Bank of Australia, along with Bank of China, will provide debt financing for the initial stage of the project. The financial closure for the project’s first stage would cover 400 MW of alternating current out of a combined 720 MW of solar power and 400 MW-hour (...