Balaoi & Caunayan Wind Farm

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The project entails the development of 160 MW Balaoi & Caunayan in Pagudpud, Ilocos Norte province, Philippines. Philippines energy producer AC Energy, a subsidiary of Ayala, is the sponsor of the $ 238.01 million project. The sponsor AC Energy Corporation (ACEN) signed a subscription agreement with its subsidiary, Bayog Wind Power Corp. (the project's SPV), for the subscription by ACEN to 36,218,032 Redeemable Preferred D Shares, 29,759,408 Redeemable Preferred E Shares, and 4,022,560 Redeemable Preferred G Shares of BWPC. The subscription will be used by the SPV to fund continuing works for the construction of the project, which started on May 18, 2021. The project is expected to complete construction by Q4 2022 and commence operations in 2023. https://www.acenrenewables.com/wp-content/uploads/2022/01/SEC-17C-Subscription-by-the-Company-to-shares-in-Bayog-Wind-Power-Corp..pdf https://renewablesnow.com/news/philippines-ac-energy-pours-usd-274m-to-back-443-mw-renewables-build-767708/ https://ijglobal.com/data/transaction/55982/balaoi-and-caunayan-wind-farm-160mw