General Announcement::AC Energy Philippines Acquires Negros Solar Farms
Issuer & Securities
AC ENERGY FINANCE INTERNATIONAL LIMITED
Date &Time of Broadcast
Announcement Sub Title
AC Energy Philippines Acquires Negros Solar Farms
Submitted By (Co./ Ind. Name)
AC Energy, Inc. / Irene Maranan
Head, Corporate Communications and Sustainability
Effective Date and Time of the event
Description (Please provide a detailed description of the event in the box below)
AC Energy Philippines, Inc. ("ACEPH"), an affiliate of AC Energy, Inc. ("ACEI"), signed separate share purchase agreements to acquire 100% of the ownership interest of Macquarie Infrastructure Holdings (Philippines) Pte. Limited, Langoer Investments Holding B.V., and the Government Service Insurance System in each of Negros Island Solar Power Inc. ("ISLASOL") and San Carlos Solar Energy, Inc. ("SACASOL"). ISLASOL owns and operates an 80MW solar farm in La Carlota City and in Municipality of Manapla in Negros Occidental, while SACASOL owns and operates a 45MW solar farm in San Carlos City, Negros Occidental.
The completion of ACEPH's acquisition of each of ISLASOL and SACASOL is subject to the approval of the Philippine Competition Commission.
ACEPH, a Philippine integrated power solutions company, was founded and incorporated in 1969. One of the early exploration companies in the country, the company has an established power generation portfolio and is a pioneer in the wholesale and electricity market. In June 2019, ACEI acquired a controlling stake in the company.
About AC Energy
AC Energy is the energy platform of Ayala, one of the largest business groups in the Philippines.
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 the region.
The company aspires to exceed 5 GW of attributable capacity and generate at least fifty percent of energy from renewables by 2025.