AC Energy Corp. , the Ayala Group’s listed energy platform, is set to offer up to P10 billion in green bonds, proceeds of which will be used to finance the completion of three solar power projects.
In a disclosure to the stock exchange Tuesday, ACEN said it was “authorized to offer and issue, out of the debt securities to be shelf registered, up to P10 billion peso-denominated ASEAN Green Fixed Rate 5-year Bonds as first tranche of the debt securities program, and to apply for the listing of the bonds with the Philippine Dealing & Exchange Corp. .”
The existing 133MW Arayat-Mexico solar project of ACEN and Citicore Solar Energy Corp., will be expanded by 72MW. The first phase of the solar farm in Pampanga has an estimated cost of P2.75 billion.
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