AC Energy Corporation (PSE:ACEN) agreed to acquire remaining 32.2% stake in NorthWind Power Development Corporation for PHP 1.1 billion on October 19, 2021. The consideration of PHP 1.1 billion is subject to adjustment. In a related transaction, AC Energy Corporation will acquire the ownership of UPC Philippines and Stella Marie Sutton for PHP 4.5 billion. In related transaction, Northwind sellers will subscribe to up to 90 million shares of ACEN at a subscription price of up to PHP 11.32 per share, subject to adjustments. The  acquisition is subject to definitive documentation, and compliance with agreed conditions precedent as well as applicable consents and regulatory approvals. ACEN board approved the acquisition. As of November 12, 2021, AC Energy Corporation signed an agreement to acquire 32.2% stake in NorthWind Power Development Corporation.