A subsidiary of Ayala formed the consortium under an investment framework agreement with clean energy specialist UPC Renewables and the PINAI fund, which includes Australian finance group Macquarie.
Ayala told its shareholders the group would develop wind projects in Ilocos Norte province via the JV company, called Northern Luzon UPC Asia Corporation (NLUPC).
The group will invest about $220m in the initial 81MW wind project, Ayala said.
