Ayala’s AC Energy, Partner UPC Philippines to Develop Wind Farms for Luzon Grid

The energy unit of Ayala Corporation and its partners are developing wind power projects to the extent of 200 megawatts (MW) in Ilocos Norte.

In an e-mailed statement Monday, the company said AC Energy Holdings Inc. signed deals covering an investment framework and a shareholders’ agreement with UPC Philippines Wind Holdco I B.V.—a wholly owned unit of UPC Renewables Partners (UPC) and the Philippine Investment Alliance for Infrastructure (PINAI) fund—to develop renewable energy projects.

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