ACEN Corporation has signed a Facility Agreement with Amihan Renewable Energy Corporation (AREC) for a Php 350 million term loan facility to support AREC’s working capital needs.
“ACEN entered into a Facility Agreement with Amihan Renewable Energy Corp. for a PhP350 Million term loan facility to fund AREC’s working capital requirements,” said ACEN in its regulatory filing.
ACEN’s renewable energy expansion continues with AREC, its fourth wind farm project in Ilocos Norte, estimated to cost around Php 6 billion. The facility is projected to contribute over 220 gigawatt hours (GWh) of clean energy annually, helping reduce carbon emissions by more than 130,000 tonnes per year.
The 70 MW project aligns with ACEN’s efforts to expand its renewable energy portfolio.
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