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Ayala unit to buy Chevron's geothermal assets in Philippines, Indonesia

AC Energy consortium to raise generating capacity as US group shifts focus

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A contract worker surveys pipes at a Chevron geothermal steam well in Bay, Laguna, south of the Philippine capital Manila.   © Reuters

MANILA -- Ayala Corp. and its Asian partners are set to acquire some of Asia's largest geothermal energy assets from Chevron, as the Philippine conglomerate further beefs up its energy portfolio.

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