ACEN to acquire owner of 60-MWp solar park in the Philippines

Dec 2, 2022 01:16 PM ET
  • Philippines-based AC Energy Corp (PSE: ACEN) will certainly get the designer of a 60-MWp solar park project in the Philippines, expecting the bargain to be finished by mid-December, it stated in a bourse filing on Thursday.
ACEN to acquire owner of 60-MWp solar park in the Philippines
Image: John S. Quarterman

ACEN, the provided energy platform of the Ayala Group, will certainly end up being the owner of Sinocalan Solar energy Corp, the car behind the target photovoltaic or pv (PV) project on the island of Luzon. The company will certainly be sold by Sungrow Power Renewables from Havilah AAA Holdings Corp for an unrevealed amount.

The solar project is located in the seaside province of Pangasinan, in the Ilocos region of Luzon.

The procurement was accepted by ACEN's board of supervisors at the end of September and results from be finalised by December 15.

Worldwide, ACEN has 18 GW of projects in its development pipe located across the Asia Pacific region. The firm in August established a goal for 20 GW of attributable renewables capacity by 2030, representing a six-fold expansion of its 3.4-GW fleet at the time. Its site shows that it now has 3.7 GW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia, with an eco-friendly share of 93%.

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