 ACEN Corporation’s Executive Committee approved on June 16, 2025, the sale to AC Energy and Infrastructure Corporation (ACEIC) of the Company’s ownership interests in the three special purpose companies operating diesel plants.
ACEIC is the majority shareholder of the Company. The completion of the divestment is subject to the satisfaction of agreed conditions precedent and the execution of definitive documentation. The divestment will be implemented via a sale to ACEIC of the Company’s outstanding common shares in the aforementioned special purpose companies. The divestment will help the Company achieve its goal of reaching 100% renewable energy generation by end-2025. The total consideration is less than 10% of the total assets of the Company as of 31 December 2024.
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