ACEN Corp. has divested its last coal-fired power plant for approximately PHP 3.7 billion to invest in renewable energy projects, reflecting a strategic shift towards sustainability.
Target Information
ACEN Corp. has announced the divestment of its last coal-fired power plant, a move valued at approximately PHP 3.7 billion (about USD 66.4 million). This strategic decision reflects the Ayala-led company's commitment to transitioning towards renewable energy initiatives. The funds generated from this divestment will be redirected to support ACEN's ongoing investments in sustainable energy projects.
By divesting its coal assets, ACEN aims to enhance its portfolio in renewable energy, which is increasingly becoming essential in light of global shifts towards sustainable practices. This divestment also aligns with international environmental trends and regulations that push for reduced reliance on fossil fuels.
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Industry Overview in the Philippines
The energy sector in the Philippines is undergoing significant transformation as the government and private companies shift focus from coal to renewable energy sources. The country is rich in natural resources, with significant potenti
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Disclosed details
Transaction Size: $66M
Enterprise Value: $66M
Equity Value: $66M