MANILA - Ayala Corp's energy unit said Friday it would acquire two companies to help build its renewable capacity to 1,000 megawatts by 2020.

AC Energy Holdings signed agreements to add Bronzeoak Clean Energy and San Carlos Clean Energy to its portfolio, Ayala Corp told the stock exchange.

Also on Friday, Solar Philippines broke ground on a 150-MW project in Tarlac province, north of Manila. The company is Southeast Asia's largest developer of rooftop solar power plans.

As more solar plants are built, the cost per kilowatthour could be halved to P2 from the current P4, Solar Philippines president Leandro Leviste told ANC's "Market Edge with Cathy Yang."