Filipinos invest in Indonesia wind
AC Energy partners with UPC Renewables on 75MW project in Sulawesi
Filipino company AC Energy has signed investment agreements with UPC Renewables for the development, construction and operation of a 75MW wind farm in Indonesia.
The project, which will be located at Sidrap in South Sulawesi, will be developed by PT UPC Sidrap Bayu Energi, a special purpose company based in Indonesia.
It is expected to be complete by the end of the year, AC Energy said.
The project will cost $150m, which will be funded through equity and project financing from the Overseas Private Investment Corp, the US government’s development finance institution, and PT Bank Sumitomo Mitsui Indonesia.
AC Energy is a subsidiary of energy and infrastructure group Ayala.
Image: AC Energy