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Manila Bulletin devider Business devider ACEN unit set to take Yoma's solar power firms

ACEN unit set to take Yoma's solar power firms

Published Dec 27, 2023 08:07 am

At A Glance

  • Belenos Energy Corp., a subsidiary of ACEN Corp., signed an agreement to acquire shares in companies providing solar power to telecom towers and industrial facilities.<br>ACEN disclosed that Belenos will fully acquire YMP Telecom Power Inc. and its affiliate, YMP Industrial Power Inc.<br>The acquisition involves obtaining 100 percent of the outstanding shares held by Yoma Micro Power (S) Pte. Ltd. in each of the YMP companies.<br>The acquisition price is less than 10 percent of ACEN's book value.<br>The acquisition aims to develop and operate solar-powered solutions for telecommunication towers, commercial, and industrial solar power solutions in the country.<br>YMP is a renewable energy company serving telecom operators, tower companies, businesses, and homeowners.<br>YMP currently provides renewable energy to over 600 telecom towers and offers grid-connected solar power plants and diesel abatement solutions for off-grid commercial and industrial clients.<br>ACEN has also agreed to provide up to P200 million in funding to YMP Telecom.

The Belenos Energy Corp., a wholly owned subsidiary of ACEN Corp., signed an agreement for the acquisition of shares in companies that provide solar power to telecom towers and industrial facilities.

In a disclosure to the Philippine Stock Exchange on Wednesday, Dec. 27, ACEN said that Belenos has entered into a share purchase agreement to fully acquire YMP Telecom Power Inc. and its affiliate, YMP Industrial Power Inc. 

ACEN said the acquisition will involve acquiring 100 percent of the outstanding shares held by Yoma Micro Power (S) Pte. Ltd. in each of the YMP companies. 

The acquisition price, ACEN said, is less than 10 percent of the Ayala-led company’s book value. 

According to ACEN, the acquisition of YMP is intended for the development and operation of solar-powered solutions for telecommunication towers, as well as commercial and industrial solar power solutions in the country.

YMP is a renewable energy company that serve telecom operators, tower companies, businesses, and homeowners.

At present, YMP supplies over 600 telecom towers with dependable and cost-effective renewable energy. 

Additionally, the company is involved in the design, procurement, installation, and maintenance of grid-connected solar power plants and diesel abatement solutions for off-grid commercial and industrial clients.

Meanwhile, ACEN also said that it has agreed to provide up to P200 million in funding to YMP Telecom Power Inc. for the development of energy efficiency and renewable energy projects.

Related Tags

renewable energy ACEN Corporation
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