ACEN Invests P660 Million in Buendia Christiana Holdings Corp.

​ACEN Corporation signed a subscription agreement with its subsidiary, Buendia Christiana Holdings Corp. (BCHC), for the subscription by ACEN to 660,000 common shares and 5,940,000 redeemable preferred shares (RPS), to be issued out of the authorized capital stock of BCHC.

​The additional capital will be used by BCHC to purchase real property required for various potential power projects.

The terms and conditions of the transaction
Number of shares to be acquired or disposed: 6,600,000
Percentage to the total outstanding shares of the company subject of the transaction: 13%
Price per share: Php 100.00 - common; Php 100.00 - RPS
Total Subscription Price of Php660,000,000

The 6,600,000 shares to be acquired is made up of 660,000 common shares and 5,940,000 RPS.

BCHC is a subsidiary of ACEN, and is a special purpose vehicle, which will own land for the Company’s development projects.

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.