Philam Life, Philippine’s leading life insurance firm, recently ratified an agreement with AC Energy, an Ayala Corporation (AC) subsidiary. For a Php1.0 Billion long-term loan, the alliance aims to partially finance the energy development company’s power and energy-related projects. With its almost 70-year existence, Philam Life has actively supported nation-building efforts by providing financing to key industries involved in major infrastructure projects like the Cavite Coastal Road and the first Skyway Project, among others.
AC Energy reached over 1000 MW in attributable capacity across its thermal and renewable energy programs. The company is now positioned to double its attributable generation capacity to 2000 MW by 2020.