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ACEN files P30-B debt securities with SEC - BusinessWorld Online

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AC ENERGY Corp. (ACEN) has filed with the Securities and Exchange Commission (SEC) the shelf-registration of debt securities worth up to P30 billion, of which the P10-billion first tranche will be offered as ASEAN green fixed-rate bonds. READ:

“Since our debt levels remain very manageable, we are taking this opportunity to issue Peso green bonds to fund our renewable energy expansion in the country,” said ACEN Chief Financial Officer and Treasurer Ma. Corazon G. Dizon in a disclosure on Tuesday.

Ayala-led ACEN said proceeds from the bond offering will fund the 283-megawatt direct current San Marcelino solar farm in Zambales, the 42-MWdc expansion of its Arayat-Mexico solar farm in Pampanga, and the construction of its 133-MWdc solar farm phase one in Lal-lo, Cagayan. Naredco is partnership among three energy companies, namely: ACEN, ACE Endevor, Inc., and Cleantech Renewable Energy 4 Corp.

At present, ACEN has approximately 3,900 MW of attributable renewable energy capacity and is working to build 5,000 MW of renewables by 2025, towards its goal of becoming the largest listed renewables platform in Southeast Asia.

 

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