Philippines' AC Energy Taps Australia to Add Capacity to its Renewable Energy Portfolio, an Industrial Info Market Brief

The Philippines' energy company AC Energy is extending its renewable energy project penetration in Australia through UPCAC Renewables Australia, which has invested in solar and pumped storage hydropower projects in south Australia. AC Energy has invested $30 million to acquire 50% of UPC Renewables (Australia), now called UPCAC Renewables Australia.

The joint venture is targeting 3,000 megawatts of renewable energy projects that are being developed in Victoria, Tasmania and New South Wales.