AC Energy approves joint venture for Lal-lo Solar Power Project in Cagayan

ABS-CBN News

Posted at Nov 02 2021 12:31 PM

MANILA— AC Energy Corp said Tuesday its board has approved the proposed joint venture for the 200MWdc Lal-lo Solar Power Project in Lal-lo, Cagayan.

The joint venture with Cleantech called CleanTech Global Renewables Inc is "currently working out the specific terms of the joint venture," AC Energy said in a disclosure to the stock exchange. 

The joint venture is also subject to regulatory approvals and definitive documentation, it said. 

AC Energy said the joint venture intends to co-own the Natures Renewable Energy Development Corp or the project company for the proposed Lal-lo Solar Power project.

Once completed, the project will boost AC Energy's attributable renewable capacity in line with its target to achieve 5,000 MW of attributable renewable capacity by 2025. 

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