Ayala Corporation to buy Bronzeoak

Philippines-based AC Energy Holdings, a wholly owned subsidiary of Ayala Corporation, has signed an agreement to acquire 100 per cent ownership of Philippines-based renewable energy developer Bronzeoak Clean Energy. The financial details of the transaction have not been disclosed. The acquisition will provide AC Energy with a renewable energy development, management and operations platform, which currently offers operations and management support services to a number of renewable energy generation companies such as San Carlos Solar Energy, Negros Island Solar Energy, Monte Solar Energy, San Carlos BioPower, South Negros BioPower and North Negros BioPower.