Nickel Asia Corp. said Tuesday its board approved its entry into a surety deal with Security Bank Corp. to secure an additional P2.0 billion loan for its power unit Emerging Power Inc., which is building a solar farm.
Emerging Power, through its subsidiary Jobin-SQM Inc., is developing a 68MW solar farm in Subic.
As well, the board of Nickel Asia, as parent company of Greenlight Renewables Holdings Inc., vowed to comply with the compulsory notification of the Philippine Competition Commission (PCC) of Greenlight’s plan to acquire another company “authorized to establish and operate a solar power plant in the Visayas region.”
It did not name the target company or other details of the planned acquisition.
Meantime, Nickel Asia declare a P0.17 regular cash dividend for shareholders of record March 29. The cash dividend total P2.3 billion
