ACEN Invests P75 Million in ACEN TSI

​ACEN Corporation signed a Subscription Contract with its subsidiary ACEN TSI for the subscription by the company to 7,500 common shares at a par value of P100.00 per common share and 67,500 redeemable preferred shares (RPS) at an issue price of P1,100 per RPS, to be issued out of the unissued portion of the authorized capital stock of ACEN TSI.

​The subscription will allow provide additional funding to ACEN TSI, which was constituted as the ACEN Group's development and construction shared services company for Philippine Development.

The terms and conditions of the transaction:
Number of shares to be acquired or disposed: 75,000
Percentage to the total outstanding shares of the company subject of the transaction: 86.2%
Price per share is as follows: P100.00 per common share; P1,100 per RPS
 
The 75,000 total shares to be acquired is made up of 7,500 common shares and 67,500 RPS.
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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.