AYALA Group, through its subsidiary AC Energy, becomes The Blue Circle’s strategic partner.
Singapore-based leading renewable energy developer and operator The Blue Circle Pte Ltd, primarily active in the Mekong region (Vietnam, Thailand and Cambodia), announces the signing of a strategic partnership with AC Energy Inc, power subsidiary of Ayala Corporation. AC Energy and The Blue Circle will jointly develop and construct TBC’s pipeline of around 1,500 MW of wind projects across Southeast Asia, including more than 700 MW in Vietnam. AC Energy took a 25% equity stake in The Blue Circle and will have rights to invest at the project level as well.
“We are excited to partner with The Blue Circle as we expand rapidly across the region. Our strategic partnership builds on our combined expertise, strong financing capabilities, and robust development pipeline”, said AC Energy Chief Executive Officer Eric Francia.
“Ayala Corporation is one of the most respected names in Southeast Asia, a family-owned multi-sector group founded in 1834 and still run by entrepreneurs” stated Olivier Duguet, Founder, Chairman and Chief Executive Officer of The Blue Circle. “Their philosophy along with their aggressive expansion into renewable energy in the region fits perfectly with ours and we are very glad to have them as strategic partners going forward”.
Together, The Blue Circle and AC Energy, expect to start construction of 200MW of wind energy projects in Vietnam next year. These projects will follow the completion of the 40W Dam Nai site construction this year by The Blue Circle, which is the sixth wind farm built in Vietnam and the largest onshore wind energy project in operation in the country. AC Energy has earmarked USD 100M of equity to fund 2019 projects with The Blue Circle. Beside the Mekong region, The Blue Circle has projects under development in the Philippines and Indonesia as well as in Laos, and will work with AC Energy to bring them to energy production.
About AC Energy
AC Energy is the energy platform of Ayala, one of the largest business groups in the Philippines. AC Energy is one of the fastest growing energy companies with over $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region. The company aspires to develop 5 GW of attributable capacity and generate at least fifty percent of its energy from renewables by 2025.
About The Blue Circle
The Blue Circle is the leading developer of wind energy projects in Southeast Asia with offices in Ho Chi Minh City, Bangkok and Phnom Penh. The Singapore based company looks to bridge the gap in project development in the region by bringing international project development experience, financial expertise and capabilities together with local market understanding. Its growth strategy is based on a local presence in each of its markets through its own team and offices as well as a network of local partners. By being vertically integrated and having its own wind engineering team, The Blue Circle can identify green field sites, pursue project development milestones up until financing and operating of the generating assets.
For further information, please contact:
The Blue Circle
Linda Ameer Tel: +65 63583414 firstname.lastname@example.org
Sustain Ability Showcase Asia
Ken Hickson Tel: +65 81397472 Kenhickson@sustain-ability-showcase.com
Irene Maranan Tel: +63 917.5298339 email@example.com