AC Energy Holdings, Inc., the power unit of Ayala Corporation, has partnered with Power Partners Limited to develop a 405 MW thermal power plant. The companies will build and operate three plants of 135 MW capacity each in Kauswagan, Lanao del Norte. The power plant development project is in line with Ayala’s plan to invest about PhP 8.2 billion in 2013 in several key power projects in order to have an energy portfolio of 1,000 MW.