ACEN Corp. has subscribed to an additional ₱875 million worth of shares in its subsidiary, Buendia Christiana Holdings Corp. (BCHC), in a move that strengthens its land acquisition vehicle for renewable energy projects.
In a disclosure to the Philippine Stock Exchange on Thursday, the Ayala-led energy company confirmed the execution of a subscription agreement covering 875,000 common shares and 7,875,000 redeemable preferred shares (RPS), both priced at ₱100 per share. The subscription represents approximately 15 percent of BCHC’s total outstanding shares.
The transaction increases ACEN’s ownership in BCHC to at least 28 percent, following a similar share subscription in March this year worth ₱660 million, which then represented 13 percent of the subsidiary.
BCHC functions as a special purpose vehicle (SPV) primarily tasked with land acquisition for ACEN’s development initiatives. Proceeds from the latest subscription will be used to purchase additional parcels of land to support ACEN’s growing portfolio of power generation projects.
“This capital infusion underscores ACEN’s ongoing commitment to secure and scale up strategic landholdings essential for its energy developments across the country,” the company said.
While ACEN did not elaborate further on the transaction details, it reiterated BCHC’s role in supporting the group’s long-term infrastructure and sustainability objectives.
The share subscription comes as part of ACEN’s broader investment program, with up to ₱70 billion earmarked for capital expenditures in 2025. The company aims to expand its renewable energy capacity to 20,000 megawatts by 2030, in line with its ambition to become a Net Zero greenhouse gas emissions company by 2050.
ACEN has a growing international presence with renewable energy projects in Australia, India, Laos, the United States, Indonesia, Malaysia, Vietnam, Bangladesh, and Taiwan.
