ACEN Corporation has announced a significant PHP 75 million investment in its subsidiary, ACEN Technical Services, Inc. (ACEN TSI) on March 21. This move, formalized through a subscription to shares, underscores ACEN’s commitment to strengthening its operations in the Philippines, where ACEN TSI plays a key role as the group’s development and construction shared services arm.
The investment, approved by ACEN’s Board of Directors in December 2023, provides fresh funding to support ACEN TSI’s ongoing and future projects. The cash payment will help the subsidiary enhance its contributions to the ACEN Group’s ambitious plans in the local energy sector. ACEN is a major player in renewable energy, known for its efforts to expand sustainable power solutions across the region.
ACEN Corporation, part of the Ayala Group, has been making headlines recently for its aggressive push into renewable energy. ACEN aims to increase its renewable energy capacity to 20 gigawatts by 2030, with the Philippines as a critical market. The investment in ACEN TSI aligns with this goal, providing the subsidiary with resources to support development and construction efforts that could accelerate project timelines.
While specific details on how this infusion will impact ACEN’s broader operations weren’t disclosed, the move signals confidence in ACEN TSI’s ability to deliver results. The subsidiary’s focus on Philippine development ties into ACEN’s larger strategy of boosting local energy infrastructure, a sector that has seen growing demand amid the country’s push for sustainability.
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