Ayala energy unit sells hydro power stakes | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Ayala energy unit sells hydro power stakes
Ayala energy unit sells hydro power stakes
ABS-CBN News
Published Jan 03, 2017 11:42 AM PHT
MANILA - Ayala Corp.'s energy unit said Tuesday it was selling stakes in two hydro power firms to focus on solar and wind projects.
MANILA - Ayala Corp.'s energy unit said Tuesday it was selling stakes in two hydro power firms to focus on solar and wind projects.
AC Energy Holdings sold its 70-percent stake each in QuadRiver Energy Corp. and Philnew Hydro Power Corp. to Sta. Clara Group Inc., Ayala Corp. told the stock exchange.
AC Energy Holdings sold its 70-percent stake each in QuadRiver Energy Corp. and Philnew Hydro Power Corp. to Sta. Clara Group Inc., Ayala Corp. told the stock exchange.
"AC Energy will first focus on solar and wind development, and could potentially revisit hydro in the future," company president John Eric Francia said.
"AC Energy will first focus on solar and wind development, and could potentially revisit hydro in the future," company president John Eric Francia said.
Sta. Clara previously held 30-percent of each of the two companies.
Sta. Clara previously held 30-percent of each of the two companies.
ADVERTISEMENT
Ayala Corp. shares were down 0.55 percent to P726.50 in early trading Tuesday.
Ayala Corp. shares were down 0.55 percent to P726.50 in early trading Tuesday.
ADVERTISEMENT
ADVERTISEMENT
