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ACEN, a Philippine company, plans to launch a PHP-10-billion, inexperienced bond offering to help with the development of 458 MW photovoltaic parks at home.
ACEN said that the inexperienced bond sale could be part of a PHP-30 billion debt securities program. Fixed-rate notes with a 5-year maturity are listed to allow buyers and sellers to trade on the Phillippine inventory changes.
The funds raised will be used to develop three photovoltaic initiatives and the transmission infrastructure that is linked to each of these schemes. A 42-MW photovoltaic plant could be built as an expansion of the Arayat Mexico photovoltaic farm to increase the advanced’s total capability to 114MW.
ACEN and Citicore Energy Inc are jointly tackling the challenge. ACEN will build a photovoltaic farm in Cagayan through a three-way partnership with CleanTech International Renewables Inc. A challenge in Zambales will see it construct a photovoltaic park of 283 MW and a new 3-km transmission link.
Eric Francia, CEO of ACEN, advised that all three photovoltaic parks will go surfing next year. ACEN, a listed vitality platform by the Ayala Group has around 3,800 MW attributable capacity in Vietnam, Indonesia, India, the Philippines, and Australia. Corporate goals are to produce 5,000 MW of renewable energy by 2025 and to become net-zero in 2050.