Author: Pamie

Source: Philippine Daily Inquirer 13 November 2019 – The country’s oldest conglomerate, Ayala Corp., said its profit almost doubled to P46.2 billion in the first nine months of the year, backed by the growth of its traditional businesses and its relativity new power subsidiary, AC Energy Inc. It said revenue from January to September rose…

Source: Philippine Daily Inquirer 13 November 2019 – AC Energy Philippines Inc. (ACEPH), formerly Phinma Energy Corp., is beefing up its renewable energy portfolio by buying out Philippine Investment Alliance for Infrastructure (Pinai) in the latter’s solar farms in Negros. This is in addition to the previously announced plan to acquire Pinai’s interest in Philippine…

Source: PhilStar 6 November 2019 – MANILA,Philippines — The Ayala Group is acquiring the stake of Japan’s Marubeni Corp. in South Luzon Thermal Energy Corp. (SLTEC) to further boost the cash flow of AC Energy Philippines Inc. (formerly Phinma Energy Corp.). In a disclosure to the Philippine Stock Exchange yesterday, AC Energy Philippines said it…

Source: Manila Standard 9 October 2019 – The Philippine Competition Commission said Wednesday it approved the acquisition of shares by an American company in GNPower Kauswagan Ltd. Co., the builder and operator of a 552-megawatt coal-fired power plant in Lanao del Norte, from three subsidiaries of AC Energy Inc.Proverbs 16 Inc. acquired indirect ownership of…

Source: Business Mirror 2 October 2019 – THE power unit of conglomerate Ayala Corp. is investing $20 million to partly finance the development, construction and operations of renewable-energy (RE) power projects in the Asia-Pacific (AsPac) region, with a goal of building a portfolio of over 1 gigawatt in the next few years. AC Energy, through AC…

AC Energy, Inc. said it has signed a deal to develop a pumped hydroelectric energy storage system with a capacity of 250 megawatts (MW) in South Australia, which it expects to start building in the next six months. “We just signed a couple of days ago an agreement to develop pumped hydro in South Australia….

Source: GMA News  17 September 2019 – Ayala-led Phinma Energy Corp. is looking at about $2 billion in capital expenditures in the next six years to expand the company’s renewable energy portfolio to 2,000 megawatts. “Our vision for AC Energy Philippines is to be the leader in renewable energy in the country. Our goal is…

Source: PhilStar 12 September 2019 – MANILA, Philippines — AC Energy Inc., the power generation unit of the Ayala Group, sees more opportunities in tapping green financing after it bagged the ASEAN Green Bond Label. The company secured another certification under the ASEAN Green Bond Standards after it issued the first Climate Bond Initiative-certified US…

Source: PhilStar 25 June 2019 – MANILA, Philippines — AC Energy Inc., the energy platform of Ayala Corp., has completed the acquisition of Phinma Energy Corp. from the Del Rosario family for P6.3 billion. In a disclosure to the Philippine Stock Exchange yesterday, AC Energy said it has acquired the combined 51.48 percent stake of…

Source: BusinessWorld 13 September 2019 – MANILA Electric Co. (Meralco) has awarded power supply agreements (PSA) covering 1,200 megawatts (MW) to units of San Miguel Corp. (SMC) and Ayala’s AC Energy, Inc. In a disclosure to the stock exchange on Thursday, the listed company identified the winning bidders during the competitive selection process (CSP) for…