SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – The country’s oldest conglomerate Ayala Corporation is expecting its power sector investments to start contributing to equity earnings in 2014.
In a filing with the Securities and Exchange Commission (SEC), Ayala disclosed that its energy investments — which have just started in 2011 — would help the firm sustain its stable growth trajectory over the near term period.
Ayala Corp. posted 20% annual profit growth at P7.3 billion in the first half of 2013.
Key drivers of growth have been real estate, banking, water and BPO segments.
View: INFOGRAPHIC: Top power players in the Philippines.
Of its $1-billion budget for projects, 60% to 70% would be used on power, while the remaining balance, on infrastructure projects.
Read: Ayala energy unit gets P7-billion loan for Calaca plant expansion
Its power pipeline already includes a coal plant in Calaca, Batangas and a thermal power plant in Kauswagan, Lanao del Norte.
READ: Hosts of RE projects are ‘investment magnets
Ayala Corp. also has investments in the renewable space through its 50% stake in North Wind Power Development Corp., which owns a 33-megawatt wind facility in Ilocos Norte. It also has interests in various mini-hydro projects.
READ: Ayala power unit inks deal with A. Brown for coal-fired plant
READ: Ayala buys stake in Bataan coal plant
READ: Ayala eyes Mindanao for power project
READ: Ayala group keen on power projects in Aparri, Pamplona
READ: Philippines approves 3 new wind farms
Ayala Corporation’s power investments overall have established a robust pipeline of power projects committing $300 million of equity on 900 megawatts of gross generating capacity. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.