PT UPC Sidrap Bayu Energi, a special purpose company led by the energy unit of Ayala Corp., expects its $150-million, 75-megawatt wind project in Indonesia to start commercial operations in the first quarter of 2018. The Sidrap project is the first greenfield offshore investment of AC Energy Holdings Inc. through affiliate AC Energy International Holdings Pte Ltd., a Singapore private limited company. Apart from the 75-MW wind farm, the Ayala energy arm also has a 20-percent stake in Star Energy (Salak-Darajat) B.V., which acquired Chevron’s geothermal operations in Indonesia. AC Energy is one of the fastest growing businesses of Ayala Corp. with more than $1 billion of invested and committed capital in renewable energy and conventional power. The company also started early development works for its possible investment in solar and wind projects in Vietnam.

Source: The Standard October 23, 2017 11:37 UTC