ACEN Corporation is strengthening its investment portfolio by subscribing to 660,000 common shares and 5,940,000 redeemable preferred shares (RPS) of Buendia Christiana Holdings Corporation (BCHC) valued at Php 660 million.
In a regulatory filing, ACEN said that the capital infusion will support BCHC in securing strategic land assets crucial for upcoming power development initiatives.
“The additional capital will be used by BCHC to purchase real property required for various potential power projects,” said ACEN.
BCHC, a subsidiary of ACEN, plays a strategic role in securing land assets essential for the company’s renewable energy expansion and project development.
Earlier, ACEN said that it is fast-tracking the rollout of its renewable energy projects across the globe, aiming to reach its target of 20 gigawatts (GW) in attributable capacity by 2030.
ACEN is rapidly scaling up its renewable energy footprint, with a total portfolio of seven GW—comprising 3.3 GW in operation, 2.3 GW under construction, and 1.4 GW in committed projects.
This steady growth underscores ACEN’s ambition to lead the clean energy transition, reinforcing its presence in key markets worldwide.
With the increasing global push for sustainability, ACEN’s aggressive expansion and commitment to green energy solutions are paving the way for a more resilient and low-carbon future. Stay updated with Power Philippines for more on ACEN’s latest developments.
There are no comments
Add yours