Per Victor V. Saulon, Assistant editor
AC ENERGY, Inc. through its international unit, invested in The Blue Circle Pte in Singapore. Doo through 25% ownership of the acquisition as well as the investment rights in the latter projects.
"It's a partner platform. Blue Circle, TBC, is a regional development and business venture focused on wind."
AC Energy CEO Eric T. Francis told reporters on Tuesday.
AC Energy, the energy hand of diversification conglomerate Ayala Corp and TBC, should jointly develop, construct, own and manage the pipeline of the nearest 1,500 megawatt (MW) wind projects across Southeast Asia, including about 700 MW in Vietnam. TBC has developed and constructed one of the first wind power plants in Vietnam.
The following year, the partnership plans to develop about 100 to 200 MW of wind power projects in Vietnam from the TBC's pipeline in that country, he said.
AC Energy AC Energy International Holdings Pte. Have signed a TB contract.
"What I like about this platform and partnership is that number one, they have the ability and the clues to wind, and others have very good development projects across the region," said Mr Francia.
He said TBC's major markets were Thailand and Indonesia, although they had some development assets in Indonesia and Cambodia, and to a lesser extent in the Philippines.
"We will start this relationship by focusing first on Vietnam, as it is most of the action," said French, adding that the regional neighbor has a deadline for installing renewable energy projects to feed-in tariffs.
He said AC Energy cut off $ 100 million for these projects.
France said project funds would come from corporate debt and assets raised through the sale of AC Energy's thermal assets. He also said that the company co-operated with several lenders for drafting a loan component for project financing.
He put the cost of raising every wind turbine mega to 1.5 to 1.6 million dollars.
AC Energy earlier said that in the Philippines and across the region it had more than a billion dollars of invested and committed capital in renewable and heat energy. Its goal is to develop five gigawatts of the associated capacity and generate at least half of the energy from renewable sources by 2025.