The JV follows the company’s recent partnership with Mitsubishi Corporation for solar power and its acquisition of 50% of the iconic Northwind project in Ilocos for wind power. These are all in line with Ayala’s campaign to augment the country’s power supply primarily through renewable and clean energy.

“This venture builds on our current portfolio of renewable energy assets, which focuses on solar, wind and hydro power technologies,” said Ayala Corporation President and Chief Operating Officer, Mr. Fernando Zobel de Ayala. “This is an important component of our plan to create a portfolio of power assets over the medium term that blends conventional and sustainable energy sources and contribute to the country’s energy requirements.”

Ayala Corp is one of the largest Philippine conglomerates with diversified business interests including investments in real estate, banking, telecommunications, water infrastructure, electronics, automotive, information technology, business process outsourcing and, recently, renewable energy.

Sta. Clara Power is a power generation company that focuses on run-of-river hydropower. It is majority-owned by Sta. Clara International Corporation, a construction company with local and overseas projects. Among Sta. Clara Power’s holdings, which will not be part of the JV, are stakes in Loboc hydro, Amlan hydro, and Bakun IPPA.