ACEN to spend PHP1.44 billion to develop renewable energy projects in the Philippines

ACEN Corporation has announced plans to invest PHP1.44 billion to fund the development of clean energy projects in the Philippines.

The allocated amount will be distributed among five special purpose vehicles – AC Laguna Solar Incorporated will receive PHP410 million, followed by AC Subic Solar Incorporated (PHP367 million), GigaWind1 Incorporated (PHP324 million), SolarAce4 Energy Corporation (PHP205 million), and Ingrid2 Power Corporation (PHP134 million). This move aligns with ACEN’s strategy to expand its renewable energy portfolio to 20 GW by the year 2030.