AC Energy, a wholly owned subsidiary of Ayala Corporation, in partnership with AMI Renewables Energy Joint Stock Co., has signed EPC and financing documents for the development of solar plants in Vietnam.
The joint venture announced its plans to build solar farms totaling 80 MW in the provinces of Khanh Hoa and Dak Lak, to be commissioned in time for the June 2019 solar feed-in tariff deadline.
The projects are estimated to cost US$83 million, financed with debt and equity. AC Energy will participate with at least 50% economic share.
Indovina Bank of Vietnam and RCBC of the Philippines will provide non-recourse financing for the Dak Lak and Khanh Hoa projects respectively.
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