Source: Philippine Daily Inquirer 10 January 2019 – The Ayala group is ramping up its energy business by acquiring a 51.48-percent stake in Phinma Energy Corp., to help reach its renewables goals. AC Energy signed with Phinma Corp. a strategic agreement that paved the way for the former to acquire a majority position in Phinma…
8 January 2019 – AC Energy, Ayala’s energy platform, and PHINMA today inked a mutually strategic agreement in relation to AC Energy’s investment in PHINMA Energy Corporation (“PHEN”). AC Energy will acquire PHINMA’s combined 51.48% stake in PHEN via a secondary share sale for approximately P3.42bn. This is based on the valuation date of December…
Source: BusinessWorld 3 January 2019 – AYALA-LED AC Energy, Inc. is looking at its retail electricity supply (RES) unit as a long-term business whose growth in the near term is meant largely to establish a respectable customer base, its top official said. “We don’t want to grow for growth’s sake because this is a long-term…
MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is bent on aggressively growing its renewable energy portfolio to become an even bigger RE player in the country and beyond, its president and COO Fernando Zobel de Ayala told The STAR. In an email interview, Zobel said the company’s renewable energy investments have been growing fast. Thus, the…
AC ENERGY, Inc. is close to reaching an equal share of renewables and thermal energy capacity in its portfolio among its operating plants as of 2018, its top official said. “You’d be surprised. We’re close to 50-50. Very close. I’m talking about actual electrons being produced. It doesn’t include projects under construction,” AC Energy Chief…
24 October 2018 – The Ayala Group’s commitment to creating shared value and making a positive impact on society is at the forefront of its business strategy and operations. This is demonstrated in many ways, one of which is disaster risk reduction, a measure that bridges the areas of relief, recovery, and sustainability. AC Energy,…
15 October 2018 – AC Energy Inc., a wholly-owned subsidiary of Philippine-listed conglomerate Ayala Corp, has entered into an engineering, procurement and construction (EPC) contract with AMI Renewables Energy Joint Stock Co for the development of two solar plants in Vietnam. According to a disclosure to the Philippines Stock Exchange, the solar plants will be…
10 October 2018 – Plastmann Industrial Corporation signed a retail power supply agreement with AC Energy, a wholly owned subsidiary of Ayala Corporation. The power supply agreement provides energy savings solutions and dependable power, which will benefit Plastmann Industrial and its customers. AC Energy will supply 1.7 MW of electricity, part of which is from renewable sources. = Plastmann Industrial Corporation is a manufacturer…
MANILA, Sept 27 (Reuters) – Aboitiz Power Corp, one of the Philippines’ biggest electricity producers, has struck a deal to pay $579 million for a stake in Ayala Corp’s thermal energy platform, the two companies said on Thursday. This is the sixth-largest domestic merger-and-acquisition deal, and the fourth biggest in the local energy sector, over…
AC Energy-managed Negros Island Solar Power, Inc. (Islasol) recently received the Silver Seal of Good Environmental Governance Award from the Provincial Environment Management Office (PEMO) of Negros Occidental. The Seal of Good Environmental Governance is given to local government units, schools, organizations, and individuals who have been involved in remarkable practices on environmental conservation and…
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