Filipino company AC Energy has signed investment agreements with UPC Renewables for the development, construction and operation of a 75MW wind farm in Indonesia.
The project, which will be located at Sidrap in South Sulawesi, will be developed by PT UPC Sidrap Bayu Energi, a special purpose company based in Indonesia.
It is expected to be complete by the end of the year, AC Energy said.
The project will cost $150m, which will be funded through equity and project financing from the Overseas Private Investment Corp, the US government’s development finance institution, and PT Bank Sumitomo Mitsui Indonesia.
AC Energy is a subsidiary of energy and infrastructure group Ayala.
Image: AC Energy
Filipinos invest in Indonesia wind
AC Energy partners with UPC Renewables on 75MW project in Sulawesi
By EBS