AC Energy Corporation (ACEN), a subsidiary of Ayala Corporation, has signed an agreement to sell diesel power barges (PB) 102 and 103 in the Philippines to SPC Island Power Corporation. The sale is expected to be completed in the fourth quarter of 2021, pending the fulfilment of pre-agreed conditions, such as government clearances.

PB 102 and PB 103 are both non-operating 32 MW oil-fired diesel barges in the Philippines. PB 103 is in Lapu-lapu City and PB 102 is located in Iloilo City’s Barangay Obrero. AC Energy has decided to sell the diesel power barges as it shifts its focus on renewable energy (RE) projects with a goal of reaching 5,000 MW of capacity by 2025.