AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations. In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance […]AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations. In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance […]

ACEN inks P859-M share subscription in JV

2025/12/11 00:05

AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations.

In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance the 115.671-megawatt (MW) Arayat-Mexico Photovoltaic Solar Power Plant in Arayat and Mexico, Pampanga.

The subscription covers 2.41 million common A shares at P1 each and 41.97 million redeemable preferred shares A at P20.41 apiece.

ACEN said the transaction forms part of the planned increase in Greencore 3’s authorized capital stock, pending approval by the Securities and Exchange Commission.

The company is subscribing to a portion of the increase consistent with its 45% stake in the joint venture.

The capital infusion supports Greencore 3’s obligations for the P2.75-billion solar project, which began full commercial operations in August 2022 and can supply enough power for about 19,450 homes.

The Pampanga solar plant forms part of ACEN’s 7.1-gigawatt renewable energy portfolio across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

ACEN has allocated over P80 billion in capital expenditure to support its renewable energy pipeline. — Sheldeen Joy Talavera

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Pound Sterling softens as traders eye BoE rate cut next week

Pound Sterling softens as traders eye BoE rate cut next week

The post Pound Sterling softens as traders eye BoE rate cut next week appeared on BitcoinEthereumNews.com. The GBP/USD pair trades in negative territory near 1.3365 during the early European trading hours on Thursday, pressured by the rebound in the US Dollar (USD). Nonetheless, the potential downside might be limited after the US Federal Reserve (Fed) delivered a rate cut at its December policy meeting. Traders brace for the US weekly Initial Jobless Claims report, which will be published later on Thursday.  Markets continue to digest the largely anticipated rate cut by the Fed on Wednesday. The US central bank reduced its key interest rate for the third time in a row at its December meeting but signaled that it may leave rates unchanged in the coming months. Two Fed officials voted to keep the rate unchanged, while Stephen Miran, whom Trump appointed in September, voted for a larger rate cut. During the press conference, Fed Chair Jerome Powell said central bankers need time to see how the three reductions this year work their way through the US economy. Powell added that he will closely examine incoming data leading up to the next meeting in January. The Fed’s economic projections suggested one rate cut will take place next year, although new data could change this. On the other hand, the prospect of the Bank of England (BoE) rate reductions could drag the Pound Sterling (GBP) lower against the Greenback. Financial markets are now pricing in nearly an 88% chance of the BoE rate cut next week after signs from economic data that inflation pressure has eased.  Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022…
Share
BitcoinEthereumNews2025/12/11 13:40