Ayalas increase stake in NorthWind Power
The power unit of conglomerate Ayala Corp. has raised its stake in the company that developed the country’s first commercial wind farm to 67.79 percent.
AC Energy Inc., through wholly-owned unit Pressage Corp., acquired an additional 17.79 percent stake in NorthWind Power Development Corp., which owns and operates the 52 megawatt Bangui wind project in Bangui, Ilocos Norte.
NorthWind is the pioneer in the wind sector. It also has a renewable energy service contract for a wind energy project in Aparri, Cagayan.
AC Energy first acquired a 50 percent stake in NorthWind in 2011. It has investments in the development of conventional as well as solar, wind, and minihydro energy sources.