Ayala Group plans to invest $1 billion in renewable energy projects

The Philippine’s Ayala Group plans to invest $1 billion to set up renewable energy projects in the Philippines, Vietnam, Australia, India and Myanmar in 2020. The investment will enhance the power generating capacity of the company by an additional 1,500 MW upon completion. The power facilities will generally be based on solar, wind, hydro and hybrid power. The company plans to set up a diesel-based power generating unit in the Philippines to serve the peaking needs of the country.

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