Ayala acquires 50% of Ilocos wind farm

The Ayala Group acquired half of the participating stake in a 33-megawatt wind farm in Ilocos Norte.

Ayala Corp. did not disclose how much it paid for the interest in NorthWind Power Development Corp., owner and operator of the wind farm at Bangui Bay, Ilocos Norte, according to a report by Malaya Business Insight.

Ayala's unit Michigan Power Inc. was the corporate vehicle used for the acquisition.

The wind farm has 20 wind turbines and is the first commercial wind-driven power plant in Southeast Asia.