ACEN, the listed renewable energy arm of the Ayala Group and one of the fastest-growing renewable energy platforms in Asia-Pacific, has extended up to P4 billion in short-term financing to wholly owned subsidiary Sanmar Solar Inc. to support the expansion of a large-scale solar facility in Zambales.
ACEN Corp., the green energy arm of the Ayala Group, said its wholly-owned unit, ACEN Australia, has secured access rights to the Central West-Orana Renewable Energy Zone (CWO REZ) for projects in New South Wales, which includes power generation from solar and wind energy.
ACEN, the listed energy company of the Ayala Group, will soon begin building the 60-megaWatt Pangasinan Solar farm, the listed power firm’s first development in the province and the second solar farm to start a major construction this year.
ACEN, the listed energy platform of the Ayala Group, will increase its power generation capacity with the development of a new 300-megawatt solar farm, called Palauig 2 Solar, in Zambales at a cost of P16 billion.
Businesses covered by the Bureau of Internal Revenue’s (BIR) electronic invoicing mandate have until year-end to upgrade billing and accounting systems, potentially adding to software, technology and training costs.
The Philippines is pushing for a free trade agreement (FTA) with the European Union to protect preferential market access and shield exporters from higher tariffs as the country moves closer to losing eligibility for the EU’s Generalized Scheme of Preferences Plus (GSP+).
The United Kingdom is seeking to deepen trade and investment ties with the Philippines without waiting for Manila’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), signaling a parallel approach to bilateral and regional economic integration.
Taiwan-based CQS Precision Die Casting Inc. is expanding into the Philippines with a new manufacturing facility in Batangas, adding robotics production to the industrial mix at LIMA Estate.