Insular Life (InLife) has inked an agreement with a subsidiary of ACEN Corporation for P1.0 billion worth of investment in the preferred shares of South Luzon Thermal Energy Corporation (SLTEC), the corporate vehicle of the Ayala group that is retiring its coal plant via the energy transition...
Ayala-led ACEN Corporation has inked a deal with European industrial giant Siemens Gamesa Renewable Energy Technology (SGRE) for the procurement of wind turbines to be deployed to its 70-megawatt wind farm project in Ilocos Norte. According to the Ayala company, Siemens Gamesa will supply and...
With a greenlight from its board of directors, Ayala-led ACEN Corporation has agreed to advance P1.139 billion loan to its partner firm Natures Renewable Energy Development Corporation (NAREDCO), a wholly owned subsidiary of Filipino-led CleanTech Global Renewables Inc., to start construction of...
ACEN Corporation, the energy investment arm of the Ayala group, will be issuing P30-billion worth of debt securities to bankroll its array of renewable energy projects. In a disclosure to the Philippine Stock Exchange (PSE), the company indicated that it will file an application with the Securities...
Polyfoam-RGC International Corporation, the maker of sought-after Uratex mattresses and foam products, has renewed its power supply agreement (PSA) with ACEN Corporation, the energy company of the Ayala group. According to the Ayala firm, it will be supplying renewable energy-generated power...
Ayala-led ACEN Corporation has partnered with Indonesian firm Puri Usaha Group for investment in Suryagen Capital Pte. Ltd., which has a business platform in renewable energy (RE) projects development in Indonesia. In a statement to the media, the Ayala firm noted that the new joint venture “will...
The board of directors of Ayala-led ACEN Corporation has approved the company’s plan to secure additional P6 billion loan for the programmed projects that will underpin its targeted portfolio growth. The company has not given details yet on the loan procurement, including the banks that shall be...
Ayala-led ACEN Corporation income dipped 68 percent to P405 million in the first quarter this year versus P829.32 million in the same period last year, owing to higher cost in securing replacement power for its customers. The Ayala firm attributed the earnings drop to “short term headwinds” as...
Ayala-led ACEN Corporation will be developing offshore wind power projects in the Philippine energy market as well as in Vietnam, according to company Chief Development Officer Jose Maria Zabaleta. “Offshore wind is one of the technologies we’re currently exploring. We have identified possible...
To bring its planned 18,000 megawatts of renewable energy (RE) ventures into fruition, Ayala-led ACEN Corporation is penciling in a mammoth $18 billion, approximately P900 billion, capital outlay for the targeted solar and wind farm installations in Asian markets. ACEN President and CEO Eric T....
Ayala-led ACEN Corporation is ramping up its renewable energy (RE) portfolio investments portfolio target across Asian markets to 18,000 megawatts (MW), a mammoth 13,000MW expansion from its original development plan of 5,000MW through year 2025, making it the biggest capacity build-up by a power...
Ayala-led ACEN Corporation has inked P13.7 billion omnibus loan and security agreement with Bank of the Philippine Islands (BPI) and Rizal Commercial Banking Corporation (RCBC) as energy transition mechanism (ETM) funding for its 244-megawatt South Luzon Thermal Energy Corporation’s (SLTEC) coal...
