Ayala Corp. subsidiaries have forged a joint venture with affiliates of Citicore Holdings Inc. to develop, build and operate a 50-megawatt solar plant in Pampanga, which is expected to go online in November.
AC Energy Corp. (Acen) will provide funding through a loan of about P2.7 billion. The project will rise in an area that straddles the towns of Arayat and Mexico.
Meanwhile, Citicore Solar Energy Corp. (CSEC) is committed to build the solar farm through affiliate Megawide Construction Corp. or any group that Megawide designates.
CSEC will also provide project development as well as operation and maintenance of the power facility through its parent firm, Citicore Power Inc., o…
Keep on reading: Ayala units, partners building 50-MW solar plant in Pampanga