Savannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTDecember 31 (Renewables Now) - Philippine company AC Energy Corporation (PSE:ACEN) will subscribe to shares in two subsidiaries to support the construction of a 160-MW wind farm and a 283-MW solar power plant in the Philippines.
The listed energy platform of the Ayala Group announced the subscription agreements, worth about PHP 7 billion (USD 137.1m/EUR 121m) each, in separate stock-exchange notices on Wednesday.
The transactions concern Bayog Wind Power Corp, which is developing the 160-MW Pagudpud wind project in Pagudpud, Ilocos Norte, and Santa Cruz Solar Energy Inc, which is developing the 283-MW solar farm located in San Marcelino, Zambales.
AC Energy, which aims to reach 5,000 MW of renewables capacity by 2025, unveiled the start of construction of the solar farm, said to be the country’s largest, in November.
Santa Cruz Solar Energy is a wholly owned subsidiary of the company.
AC Energy will become 100% owner of the wind project following completion of the previously announced acquisition of the ownership interest of UPC Philippines Wind Investment Co BV and Stella Marie L Sutton in Bayog Wind Power.
(PHP 1 = USD 0.020/EUR 0.017)
Savannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTMuirhall Energy files for approval 409-MW Scottish wind project
May 27, 2022 10:43 CESTAir Products, ACWA Power ink deal for large green ammonia project in Oman
May 26, 2022 15:26 CESTMasdar to buy into BP's large Teesside green hydrogen project in UK
May 24, 2022 11:11 CESTVistra powers up 260-MW/260-MWh battery in Texas
May 24, 2022 8:54 CESTMaoneng secures grid approval for 240 MWp/480 MWh BESS in Victoria
May 19, 2022 7:08 CEST