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ACEN allots $18 M for solar farm in Bangladesh
The Philippine Star
|October 25, 2024
Ayala-led ACEN Corp. is spending up to $18 million to bankroll a 70-megawatt (MW) solar project in Bangladesh as part of its aggressive expansion in Asia-Pacific.
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ACEN, through ACEN Renewables International Pte. Ltd., will infuse the capital into IBV ACEN Renewables Asia Pte. Ltd., its joint venture with Singapore-based ib vogt (Singapore) Pte. Ltd.
The investment will be used to purchase the relevant project holding company and finance the necessary capital expenditure, ACEN told the Philippine Stock Exchange yesterday.
In April 2022, the listed energy platform of the Ayala Group signed an agreement with ib vogt Singapore for the construction and execution of large-scale solar power plants in Asia.
This story is from the October 25, 2024 edition of The Philippine Star.
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