Ayala-led ACEN is set to issue Php30 billion in debt securities to help finance three of its renewable energy projects.
In a disclosure to the Philippine Stock Exchange (PSE), ACEN said it would be filing a three-year shelf registration of the debt securities program with the Securities and Exchange Commission (SEC).
The Php 30 billion will be issued in one or more tranches under the program. The first tranche will be a Php 10 billion peso-denominated ASEAN fixed green bonds with a five-year tenure.
Proceeds of the bonds will be used to fund the construction to expand ACEN’s 72 megawatt MW) Arayat-Mexico Solar Power Project to 116 MW. The solar farm is a partnership with Citicore Solar Energy Corp.
The bonds will also be funding the construction of the 133 MW Cagayan Solar I solar project under Natures Renewable Energy Devt. Corp., and the first phase of the San Marcelino Solar project with a transmission line component.
ACEN currently has an attributable capacity of 3,800 MW across the Asia Pacific and is looking to achieve a 5,000 MW all-RE portfolio by 2025.