Sta Clara Corporation is to acquire 100% ownership of three hydropower generation company’s in the Philippines after signing a deal to acquire Ayala Corporation’s majority stake in each one.

The deal – reported by – includes Ayala’s 70% stake in QuadRiver Energy Corp, Philnew Hydro Power Corp and PhilnewRiver Corp. Sta Clara had previously owned 30% of each company.

The hydro companies are all in receipt of hydropower service contracts from the Department of Energy.