ACEN acquires full control of Islasol through share purchase

ACEN Corp., the Ayala Group's listed energy arm, plans to acquire full control of Negros Island Solar Power Inc. (Islasol) through a share purchase agreement with Asian Energy Impact Trust Plc.

The transaction involves the purchase of 7,371 preferred shares but ACEN did not disclose the exact value, stating it is less than 10 percent of its book value as of December 2024.

Once completed, ACEN will own Islasol's two renewable power facilities in Negros Occidental with a combined capacity of 80 megawatts, capable of powering about 16,000 households.

Islasol was previously owned by Philippine Investment Alliance for Infrastructure and the acquisition was approved by the Philippine Competition Commission in March 2020.

ACEN is expanding its presence in renewable energy both locally and internationally, with a current global capacity of 6.8 gigawatts and plans to reach 20 GW by 2030.