ACEN Corp. has invested P1.9 billion in its affiliate, Natures Renewable Development Corp. (NAREDCO), through the subscription of 419,690 redeemable preferred shares priced at P4,527.16 each.
In a disclosure to the Philippine Stock Exchange, ACEN said the cash infusion will help NAREDCO cover loan obligations and operating expenses. The payment will be made in cash upon signing of the agreement.
NAREDCO, a joint venture between ACEN and Cleantech Renewable Energy 4 Corp. with a 60:40 ownership split, operates the 133.464 MW Cagayan solar power plant, which began commercial operations in October 2024.
This move supports ACEN’s broader goal of expanding its renewable energy capacity to 20,000 MW by 2030 and achieving net-zero greenhouse gas emissions by 2050.
The company has set aside P70 billion in capital expenditures for 2025 and aims to complete 1,200 MW of renewable energy projects by year-end across the Philippines, Laos, and India. ACEN also has ongoing projects in Australia, Vietnam, the U.S., Indonesia, Malaysia, Bangladesh, and Taiwan.
