ACEN Corporation Acquires 29,500 Common Shares of CI GMF II Camarines Offshore Wind Energy Corporation

On 28 May 2025, ACEN executed a Share Purchase and Loan Agreement with CI NMF Philippines C.V. and CI GMF II COOPERATIEF U.A. for the development of a 1 GW offshore wind project in the provinces of Camarines Sur and Camarines Norte, Philippines.
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Subsequently, on 23 June 2025, ACEN signed a Deed of Absolute Sale with CI NMF Philippines C.V. for the acquisition of 29,500 common shares in CI GMF II Camarines Offshore Wind Energy Corporation.

The transaction forms part of the Company’s strategic initiative to advance the development of Philippines’ first large-scale offshore wind project, with a potential installed capacity of up to 1 GW. It underscores the Company’s commitment to unlocking the country’s vast offshore wind resources and accelerating the energy transition through the expansion of clean energy sources.

CI GMF II Camarines Offshore Wind Energy Corporation will be the holding company of CI NMF (PH) Corp., which will develop, construct, operate and maintain the planned 1 GW Offshore Wind Energy Project in the provinces of Camarines Sur and Camarines Norte, Philippines.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 29,500
Percentage to the total outstanding shares of the company subject of the transaction: 25%
Price per share: P100 per share
Total Payment Price of P2,950,000.00

You may read related article: ACEN Partners with CIP to Develop the Philippines’ First Large-Scale Offshore Wind Project