June 29, 2017 11:55 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of AC Energy Holdings, Inc.

Company Overview

AC Energy Holdings, Inc. operates as a holding company. The company develops and operates power generation facilities that generate power using solar, wind, and mini-hydro energy. The company was formerly known as Michigan Power Inc. and changed its name to AC Energy Holdings, Inc. in May, 2011. The company is based in Philippines. AC Energy Holdings, Inc. operates as a subsidiary of Ayala Corp.



Founded in 2011

Key Executives for AC Energy Holdings, Inc.

AC Energy Holdings, Inc. does not have any Key Executives recorded.

AC Energy Holdings, Inc. Key Developments

AC Energy Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2017

AC Energy reported unaudited earnings results for the first quarter ended March 31, 2017. Net income surged 25% to PHP 313.7 million. This was achieved despite the annual maintenance for AC Energy's conventional energy assets, South Luzon Thermal Energy Corporation and GNPower Mariveles, which was scheduled during the period.

AC Energy Eyes Acquisitions

AC Energy Holdings, Inc. is looking for acquisition opportunities. Eric T. Francia, President and Chief Executive Officer of AC Energy, said, "Our strategic priority is to get that next milestone (of adding another 1,000 MW of capacity). Our existing platforms have an expansion potential. We will also continue to look for acquisitions and partnerships as what we've been doing in the last five years. We will not only look (at opportunities in the local market), but also in the region."

AC Energy Holdings Reports Unaudited Earnings Results for the Year Ended December 31, 2015

AC Energy Holdings reported unaudited earnings results for the year ended December 31, 2015. For the year, the company recorded a net income of PHP 2.1 billion during the year as its power generation assets came online and achieved more efficient operating levels.

Recent Private Companies Transactions

March 17, 2017
Bronzeoak Clean Energy, Inc. and San Carlos Clean Energy Inc.
December 29, 2016
70% stake in QuadRiver Energy Corporation, Philnew Hydro Power Corporation, PhilnewRiver Corporation
December 23, 2016
Chevron Global Energy Inc., Geothermal operations in Indonesia and the Philippines

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