AN affiliate of AC Energy Inc. has raised its stake in a listed Australian renewable energy (RE) company as it continues to beef up its RE portfolio overseas, its parent firm Ayala Corp. said on Tuesday.

In a disclosure, the Ayala-led conglomerate said UAC Energy Holdings Pty. Ltd. — a joint venture of AC Energy and UPC\AC Renewables Australia — told the Australian Securities Exchange (ASX) that it increased its ownership in Infigen Energy Ltd. to 13.40 percent from 12.82 percent.