ACEN Corp., a subsidiary of Ayala Group, plans to invest P8.7B in Giga Ace 8 Inc. for a 300 MW solar farm in Zambales, Philippines.
ACEN Corp., a subsidiary of Ayala Group, plans to invest P8.7 billion in its wholly-owned subsidiary Giga Ace 8 Inc. for the construction of a 300 MW solar farm in Zambales, the Philippines. The project, named Palauig Solar 2, will be developed through Giga Ace 8, a special-purpose vehicle (SPV) for renewable energy projects in the country. An initial payment of P2.17 billion has been made, with full payment pending regulatory approvals.
June 06, 2024
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