Ayala unit builds 67.8% stake in Philippine wind co
A fully-owned unit of Philippine diversified group Ayala Corp (PSE:AC) has
raised its stake in NorthWind Power Development Corp to 67.79% from 50%
previously.
Ayala's AC Energy Holdings Inc, through fully-owned unit Presage
Corporation, has bought an additional 17.79% stake in the Manila-based wind
power company.
NorthWind Power operates the first commercial wind farm in Southeast Asia.
The plant has a capacity of 51.9 MW and is located in Bangui, Ilocos Norte.
The Bangui project saw its first 15 turbines be installed in 2005 and was
expanded with an additional 11 turbines in October 2014.
The firm also has a renewable energy service deal for a wind project in
Aparri, the province of Cagayan.
AC Energy acquired its initial 50% NorthWind stake in 2011. Ayala did not
disclose the value of the latest deal.
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Link to Original Article:
http://renewables.seenews.com/news/ayala-unit-builds-67-8-stake-in-philippin
e-wind-co-547830
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John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
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