The 135MW circulating fluidized bed thermal coal-fired power plant located in Iloilo province in the Western Visayas region, Philippines, was a joint venture project between AE Energy and A Brown Company.
Post acquisition, PTCH now owns 100% interest in the thermal plant.
Ayala Group stated that the divestment of interest in the power plant is part of the company’s strategy to focus more on its other existing power plants and develop new projects.
The thermal plant is being constructed by a vehicle company South Luzon Thermal Energy, which is a partnership between AC Energy, Trans-Asia Oil, and Energy Development.
The value of the transaction has not been revealed.
