{"id":331164,"date":"2025-01-15T19:16:45","date_gmt":"2025-01-15T11:16:45","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331164"},"modified":"2025-01-15T19:16:49","modified_gmt":"2025-01-15T11:16:49","slug":"trade-the-news-aps-aboitiz-renewables-takes-full-ownership-of-cornerstone-energy","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-aps-aboitiz-renewables-takes-full-ownership-of-cornerstone-energy\/","title":{"rendered":"Trade the News: AP&#8217;s Aboitiz Renewables takes full ownership of Cornerstone Energy"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>POSITIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>Aboitiz Power Corp.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>AP<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Buy<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 51.10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Aboitiz Renewables Inc. (ARI) has finalized a share purchase agreement with Mainstream Renewable Power Philippines Holdings B.V. (MRP) for the acquisition of MRP\u2019s shares in Cornerstone Energy Development Inc. (CEDI).<\/p>\n\n\n\n<p>The deal, which was concluded on Jan. 10, 2025, effectively terminates previous agreements between the two parties for the development of a 90-megawatt (MW) onshore wind project in Libmanan, Camarines Sur, parent company Aboitiz Power Corp. said in a stock exchange filing.<\/p>\n\n\n\n<p>The reasons for the termination of the earlier agreement, which dates back to 2017, were not disclosed.<\/p>\n\n\n\n<p>In 2022, MRP announced a joint venture with Aboitiz Power to co-develop the wind project, with ARI set to acquire a 60% stake and commercial operations targeted to begin by 2025.<\/p>\n\n\n\n<p>MRP, headquartered in Dublin, Ireland, underwent changes in ownership after Aker Horizons acquired a majority stake in 2021, followed by Mitsui &amp; Co., Ltd. joining as a strategic partner in 2022.<\/p>\n\n\n\n<p>The wind project\u2019s development timeline was later adjusted, with operations expected to commence in 2026 under the original joint venture framework.<\/p>\n\n\n\n<p><em>(News Source: <a href=\"https:\/\/bilyonaryo.com\/2025\/01\/14\/aboitiz-renewables-takes-full-ownership-of-cornerstone-energy-terminates-libmanan-wind-project\/power\/\">Bilyonaryo<\/a>)<\/em><\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-331164","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=331164"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331164\/revisions"}],"predecessor-version":[{"id":331166,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331164\/revisions\/331166"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}