The Ayala Corp.’s AC Energy Holdings Inc is planning to build a solar power plant in the province of Negros Oriental in the Philippines.
Ayala Corp partnered with Bronzeoak Clean Energy Inc to construct, develop, and operate the solar farm. The construction will be done in two phases.
The first phase is constructing an 18MW power plant, costing around P1.3 billion. Construction is due to be finished on March 2016. The second phase expands the 18MW plant to 40MW.
“This project serves as a good entry platform for our investment in solar power, particularly as technology costs have dramatically improved over the past few years,” AC Energy president and chief executive John Eric Francia said in a statement.