ACEN, the renewable energy arm of the Ayala Group, said Thursday that its subsidiary, ACEN Renewables International, has completed the acquisition of the Australia development platform, UPC Renewables Asia Pacific Holdings.
It said ACEN International acquired the remaining 4,766 shares in UPC-AC Energy Australia Ltd. to complete the final tranche and fully buy out its partner in ACEN Australia.
The deal gives the Ayala firm full ownership of the 521-megawatt New England solar farm and the 520-MW Stubbo solar farm in Australia.
Also included in the acquisition is the development pipeline of ACEN Australia, which spans New South Wales, Tasmania, Victoria, and South Australia.
Australia is ACEN’s biggest market outside of the Philippines, with over 1,000 MW of renewable energy projects under construction.
