AC Energy lends P1B to Solar Philippines affiliate for project sites

AYALA-LED AC Energy Corp. is lending up to P1 billion to an affiliate of Solar Philippines Power Project Holdings, Inc. to fund the acquisition of sites for solar power projects. The listed energy platform told the stock exchange on Monday that it had signed on June 25 an omnibus loan and security agreement with borrower...

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AC Energy gears up to develop the Philippines’ largest wind farm

AC Energy and UPC Renewables begin construction of the 160 MW Balaoi & Caunayan wind farm in Pagudpud, Ilocos Norte The Balaoi & Caunayan wind farm will be the largest in the country, with 32 of the latest wind turbines from leading supplier Siemens Gamesa each capable of producing 5 MW An important milestone for...

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Update on GIC Private Limited’s Php 20bn Investment in AC Energy Philippines

January 5, 2021 – On 30 December 2020, AC Energy Philippines (PSE: ACEN) and its parent company, AC Energy and Infrastructure Corporation (“AC Energy”; formerly, AC Energy, Inc.), signed an Investment Agreement with Arran Investment Pte Ltd, an affiliate of GIC Private Limited (“GIC”), for GIC’s acquisition of an effective 17.5% ownership stake in ACEN...

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Philippines cited for ASEAN green-finance leadership

The Philippines was cited as a regional leader in sustainable finance thanks to the combined efforts of the government, banks, and businesses, according to a report issued by the international non-profit Climate Bonds Initiative (CBI). “The Philippines is a leader in green finance in ASEAN. (It) has been increasingly exploring the use of green debt...

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GIC Private Limited to invest Php20bn in AC Energy Philippines

AC Energy Philippines today announced the potential investment of an affiliate of GIC Private Limited (“GIC”), Arran Investment Pte Ltd, in ACEN, in a deal valued at approximately Php 20bn. The Board of Directors of ACEN approved today the proposal of GIC’s affiliate to acquire a 17.5% ownership stake in ACEN (the “Investment”), and which...

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AC Energy accelerates renewable energy expansion in the Philippines

Strong government support, enabling policies, technology improvements, and abundant resources make investing in renewable energy an attractive prospect in the Philippines. For AC Energy, Ayala Corporation’s power generation arm, the Philippines remains to be a core market, and the company reinforces its strong commitment to invest in much needed energy projects in the country as...

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AC Energy accelerates renewable energy expansion in the Philippines with two new solar plants

August 18, 2020 – AC Energy Philippines (PSE: ACEN) is set to develop two new solar plants in Central Luzon with an aggregate capacity of up to 150 MW. This will bring ACEN’s total Philippine projects under construction to 480 MW, which includes 330 MW of solar and 150 MW of peaking diesel plants. The...

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AC Energy Philippines completes onshore restructuring; registers Php 1.96B first half net income

AC Energy Philippines (ACEPH) registered a Php 1.96 billion net income in the first half of the 2020, a significant turnaround from a Php 552 million loss in the same period the prior year. The strong performance was mainly driven by the successful infusion of AC Energy, Inc.’s on-shore assets and recent acquisitions. Last June...

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2020 AC Energy Philippines Annual Stockholders’ Meeting Message from the Chairman

  AC ENERGY ASM SPEECH 2020 ANNUAL STOCKHOLDERS’ MEETING MESSAGE FROM THE CHAIRMAN FERNANDO ZOBEL DE AYALA APRIL 20, 2020 Fellow shareholders, colleagues in the Board and management, ladies and gentlemen, good morning to all of you. As many of you know, our independent director Mr. Jesus “Chito” Francisco recently passed away. It is important...

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