ACEN enters deal to acquire 60 MW solar project in Pangasinan

ACEN Corporation, an energy platform of Ayala Group, has entered a share purchase agreement with Sungrow Power Renewables Corp. and Havilah AAA Holdings Corp. for the sale of the shares and/or subscription rights of Sinocalan Solar Power Corp. (SSPC), the owner and developer of 60 MW solar project in Pangasinan, Philippines. 

The deal is expected to close by December 15, 2022. Once the transaction is closed, ACEN will wholly own SSPC thereby adding 60 MW capacity to its renewable energy portfolio.