ACEN Corporation Boosts Investments in Belenos Energy Corporation for P50 Million

ACEN Corporation, the energy arm of Ayala Group, signed a Subscription Contract with Belenos for the subscription by the company to Fifty Million (50,000,000) Redeemable Preferred Shares (RPS) with a par value of One Pesos (P1.00) per share or a total par value of Fifty Million Pesos (P50,000,000.00), to be issued out of the increase in authorized capital stock of Belenos.

The subscription will allow ACEN to have a significant ownership in Belenos and is meant to implement Belenos’ investment into a potential renewable energy project.

​The transaction is subject to the regulatory approval by the Securities and Exchange Commission (SEC) on the increase in authorized capital stock of Belenos.

In the energy industry, Belenos Energy Corporation, a subsidiary of ACEN Corporation, is a business that specializes in sustainable energy solutions. The production of renewable energy, with a focus on wind and solar power, is one of the company's primary products. 
 
ACEN is the listed energy platform of the Ayala Group with a fast-growing presence in the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR and the U.S.A. With about 4.8 GW of attributable renewables capacity in operation and under construction, as well as signed agreements and won competitive tenders worth over 1 GW, the company has already effectively surpassed its original goal of reaching 5 GW of renewables by 2025.

ACEN aims to provide clean, reliable and affordable energy in the Asia Pacific and grow its renewables capacity to 20 GW by 2030. The company is committed to achieving 100% renewable energy in its generation portfolio by 2025 and becoming a Net Zero greenhouse gas emissions company by 2050.

You may also read related article:

ACEN Corporation Acquires More Shares in Belenos Energy Corporation for P467 Million