Ayala-Led JV To Build $220M Wind Farm In Philippines

Law360, New York (July 15, 2013, 12:15 PM EDT) -- An affiliate of Philippines conglomerate Ayala Corp. has signed a joint venture agreement with a local infrastructure fund to develop a $220 million wind farm in the country, Ayala announced Monday.

Ayala subsidiary AC Energy Holdings Inc. will be the majority equity partner of the venture, supplying roughly 64 percent of the capital for the 81-megawatt wind farm. The project will be in the Philippines coastal province of Ilocos Norte, Ayala said.

The venture's minority partners include the Philippine Investment Alliance for Infrastructure, or PINAI, fund,...
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