Energy Holdings Inc., the power generation arm of the Ayala Group, has acquired a controlling stake in NorthWind Power Development Corp. (NorthWind). AC Energy did not disclose the financial details of the acquisition. The company also has a renewable energy service contract for a wind energy project in Aparri in the province of Cagayan. AC Energy recently announced its plan to double energy investments to $1.6 billion to achieve a 2,000-MW capacity in the next five years. Five years since it entered the market in 2011, AC Energy now has seven thermal, wind, and solar assets.

Source: Manila Times November 22, 2016 16:34 UTC