AC Energy boosts capacity to 1.6GW after new deal

It has hit financial close for the second unit of its 2x668MW super-critical coal plant.

Philippine IPP AC Energy Holdings, owned by business mogul Ayala group, has increased its attributable capacity to 1,600MW after it sealed project financing for a coal-fired power project in Dinginin, Bataan.

GNPower Dinginin Ltd. Co.,a joint venture of AC Energy, Aboitiz Power subsidiary Therma Power and other power partners, has achieved financial close for the second unit of the 2x688MW super critical coal fired power plant.

The project is estimated to be around $1.7b, but the company did not disclose the amount of funding it secured and the banks it inked the deal with.