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Singapore outfit Blue Circle and Philippine company AC Energy are teaming up to develop about 1500MW of wind energy projects in south-east Asia, including 700MW in Vietnam. The first project is expected to be a 200MW wind farm in Vietnam, construction of which is scheduled to start next year. AC Energy, which is a subsidiary of Ayala Corp, has earmarked $100m of equity to fund projects in 2019 with Blue Circle. Blue Circle also has projects under development in the Philippines, Laos and Indonesia, and will work with AC Energy to bring them to production. AC Energy chief executive Eric Francia said: “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.” Blue Circle chief executive, chairman and founder Olivier Duguet said: “Ayala Corp is one of the most respected names in Southeast Asia, a family-owned multi-sector group founded in 1834 and still run by entrepreneurs. “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.” |
