ACEN Takes Full Control of Negros Island Solar Power, Inc.

ACEN Corporation executed a Share Purchase Agreement and Deed of Absolute Sale with Asian Energy Impact Trust Plc (AEIT), involving the sale by AEIT of seven thousand three hundred seventy-one (7,371) Redeemable Preferred Shares E (“RPS E”) of Negros Island Solar Power, Inc. (Islasol) in favor of the Company.

​Upon the completion of the sale (subject to obtaining the requisite certificate authorizing registration from the Bureau of Internal Revenue), the Company will acquire full ownership and control of Islasol’s operations, decision-making, and financial management.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 7,371
Percentage to the total outstanding shares of the company subject of the transaction: 14%

Price per share: The total consideration is less than the 10% of total assets of the Company as of 31 December 2024.

IslaSol is composed of multiple utility-scale solar farms in La Carlota and Manapla, Negros Occidental, with a combined capacity of 80 megawatts, which began operations in 2016.

ACEN, the Ayala group’s listed energy platform, is at the forefront of the energy transition, with a rapidly growing presence across the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR and the USA. The company currently has 6.8 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects.
​
As a pioneer in advancing the shift to sustainable energy, ACEN is dedicated to delivering clean, reliable, and affordable power across the Asia-Pacific region. With an ambitious target to scale its renewable energy capacity to 20 GW by 2030, the company is on track to achieve 100% renewable energy generation by 2025 and reach Net Zero greenhouse gas emissions by 2050, driving a carbon-neutral future and supporting the global energy transition.