Philippine Competition Commission clears AC Energy for 45 MW solar project acquisition

The Philippine Competition Commission has cleared AC Energy Inc for the acquisition of the majority stakes in the 45 MW solar plant in San Carlos City in Negros Occidental, Philippines from Macquarie Infrastructure Holdings (Philippines) Pte. Ltd., Langoer Investments Holding B.V., and the Government Service Insurance System.

AC Energy will acquire a total of 6.996 common B shares and 36.246 redeemable B shares which gives the company a 70% controlling interest in Sacasol, owner and operator of the solar plant, for a total of PHP2.772 billion (US$54.8 million). 

The solar farm operates under the feed-in-tariff (FIT) regime of the Renewable Energy Act.

AC Energy is part of the Philippine conglomerate Ayala Corporation.