AC Energy Inc., the energy unit of conglomerate Ayala Corp., tapped BPI Capital as sole global coordinator and BPI Capital, CLSA, Credit Suisse and UBS as joint lead managers and joint book-runners of a planned green note issue.
AC Energy Philippines disclosed to the Philippine Stock Exchange the mandate to the banks in relation to the proposed offering of fixed for life (non-deferrable) senior perpetual non-call 3-year green notes (the “Notes”), subject to market conditions.
AC Energy Finance International Ltd., a wholly-owned subsidiary of AC Energy, will issue the notes, with guaranty from AC Energy.
AC Energy earlier announced plans to invest $1.2 billion of equity in 2020 to finance 1,500 megawatts of local and international power projects.
AC Energy plans to put up 400 MW of power plants in the Philippines. These include the Alaminos solar and Luzon solar projects, Luzon wind farm and Ingrid (Pililla) peaking plant.
It is developing 400 MW of solar projects in Australia and 300 MW in Vietnam. The company is also looking at 400 MW of power projects in India and Myanmar.
AC Energy aims to install 5,000 MW of power generation capacity by 2025.
AC Energy is one of the fastest growing energy companies with over $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around Asia.
AC Energy unit AC Energy Philippines Inc. (formerly Phinma Energy Corp.) last week announced the investment in and construction of a 60-MW solar power plant project in Palauig, Zambales province.
AC Energy Philippines subsidiary AC Energy Development Inc. will build the solar project scheduled for completion by 2020.
The AC Energy Philippines board also endorsed the approval of the executive committee to sign a share purchase agreement with the Philippine Investment Alliance for Infrastructure Fund, or PINAI.
The company is buying the interest of PINAI in Philippine Wind Holdings Corp., the parent company of North Luzon Renewables Energy Corp., which owns and operates an 81-megawatt wind farm in Pagudpud, Ilocos Norte.
AC Energy Philippines acquired PINAI’s stake in PhilWind for P2.7 billion.
PhilWind directly and indirectly owns 67 percent of North Luzon Renewables energy Corp., through its 38-percent direct interest and 28.7-percent indirect interest through 100 percent wholly-owned subsidiary, Ilocos Wind Energy Holding Co. Inc.
AC Energy Philippines disclosed to the Philippine Stock Exchange its board approved the purchase of up to 100 percent percent of PINAI’s ownership in San Carlos Solar Energy Inc. , which owns and operates a 45-MW solar farm in San Carlos City, Negros Occidental.
