ACEN injects P3 billion into subsidiary for Palauig solar and battery projects
ACEN Corp. is adding P3 billion to its subsidiary Giga Ace 8 Inc. to finance the Palauig Solar 2 park and a battery storage facility.
The Ayala-group energy company ACEN Corp. announced a P3 billion capital boost for its wholly-owned Giga Ace 8 Inc. The money will fund the construction of the Palauig Solar 2 photovoltaic plant and an associated battery energy storage system. The financing was secured through a subscription for 300 million Redeemable Preferred Shares “A”. The initiative expands ACEN’s renewable portfolio in the Philippines.
Why it matters
The investment strengthens the Philippines' renewable energy capacity and signals growing private sector support for clean power.
In this story
ACENPalauig Solarbattery storageP3 billionrenewable energyPhilippinesGiga Ace 8preferred shares
