However, the Philippines actually beat them to it: about a week before the signing of the MoU in Jakarta, Ayala's ACEN announced it had divested its South Luzon Thermal Energy Corp. holdings in a deal similar to the model under the ADB's ETM but organized privately.
owns the 2 x 135-megawatt coal-generating plant in Calaca, Batangas, and the end result of the complicated transaction is that the facility can be retired in 2040, 15 years sooner than previously planned.
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