ACEN aims to raise ₱30B for expansion via SRO
ACEN Corp., Ayala Group's renewable energy unit, plans to raise up to ₱30 billion through a stock rights offering (SRO) to fund its expansion and pay off debt.
The SRO will issue primary common shares at an indicative price of P2.30 per share, with the goal of completing the issuance by September 2025.
ACEN's principal shareholders have indicated support for the SRO and plan to subscribe to their pro-rata shares subject to final terms.
Recent developments include projects in Laos and India, as well as several upcoming Philippine projects such as Pagudpud wind (160 MW), Capa Wind (57 MW), and Pangasinan solar (60 MW).
ACEN's chairman highlighted momentum in key markets like the Philippines, Australia, and India, with 1.2 gigawatts of renewable energy projects expected to reach financial close within 12 to 18 months.
The company also has plans for additional capacity from new facilities coming online in the Philippines and abroad, including the 520-megawatt Stubbo Solar facility in Australia and the 146-MW Monsoon Wind project in Laos.
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