^

Business

Ayalas get US regulators’ nod for acquisition of Texas wind projects

Philstar.com
Ayalas get US regulators’ nod for acquisition of Texas wind projects
The wind projects have a combined capacity of 136 megawatts (MW), which will generate approximately 360 gigawatt-hours (GWh) of wind energy per year, enough to power around 24,000 households and avoid 127,000 metric tons of CO2 emissions.
The STAR / Miguel de Guzman, file

MANILA, Philippines — ACEN Corp. announced Monday it received the approval of the US Federal Energy Regulatory Commission (FERC) for its purchase of eight wind power projects in Texas, sealing its entry to the US energy market.

The power unit of the Ayala Group made the announcement in a disclosure to the stock exchange.

Under the transaction, ACEN’s joint venture company, UPC Power Solutions LLC, would acquire 136 MW of wind assets from US-based GlidePath Power Solutions LLC.

UPC power and GlidePath signed the purchase agreement last March.

“With the FERC approval, UPC Power and GlidePath will proceed to complete the acquisition pursuant to their Purchase and Sale Agreement,” ACEN said.

ACEN has 4,000 megawatts (MW) of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India and Australia, with a renewable share of 98 percent, which is among the highest in the region.

The company aspires to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 gigawatts of renewables capacity by 2030.

vuukle comment

ACEN CORP

RENEWABLE ENERGY MARKET

Philstar
x
  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with