Ayala-led ACEN Corp. is set to collaborate with a Norwegian investment firm to offer solar power solutions to telecommunications towers nationwide, bolstering its commitment to renewable energy sources.
In a recent disclosure to the stock exchange, ACEN revealed plans to invest in Yoma Micro Power Telecom Power Inc. (YMP) along with the Norwegian Investment Fund (Norfund) to provide sustainable and cost-effective solarization solutions for telecom operators in the Philippines.
YMP, a renewable energy company operating in the Philippines, Myanmar, and Singapore, specializes in offering clean energy alternatives for telecom operators and homeowners.
Norfund, funded by the Norwegian government and dedicated to supporting developing countries, has committed $2.5 billion for various projects.
While the specific terms of the joint venture are yet to be finalized, ACEN aims to grow its renewable energy portfolio to 20 gigawatts (GW) by 2030, accelerating new developments each year.
Currently, ACEN boasts around 4.3 GW of capacity from its facilities in multiple countries, with a remarkable renewable energy share of 98 per cent.
