Philam Life, the country’s premier life insurance company, recently signed an agreement with AC Energy, a wholly-owned subsidiary of Ayala Corporation (AC), for a Php1.0 Billion long-term loan to partially finance the energy development company’s power and energy-related projects.
Throughout its almost 70-year history, 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.
In photo (from left to right) are Philam Life Head of Fixed Income and Corporate Finance J. Vincent R. Daffon, Philam Life CIO Arleen May S. Guevara, AC Energy President and CEO Eric T. Francia, and AC Energy CFO Maria Corazon G. Dizon.
AC Energy reached over 1000 MW in attributable capacity across its thermal and renewable energy platforms. The company is now positioned to double its attributable generation capacity to 2000 MW by 2020.