ACEN, Axia Power to put up ₧6.875B storage hub in Rizal | Lenie Lectura

INGRID Power Holdings Inc. , a joint venture between ACEN Corp. and Axia Power Holdings Philippines Corp. , proposed to put up a 270 megawatt “battery energy storage system,” or “Bess,” in Rizal worth P6.875 billion.

The project is now in the pre-construction stage, which includes preliminary site investigation as well as acquisition of necessary permits and clearances prior to project construction. The companies said the project will use lithium-ion battery, which is “the most mature and commercially available battery technology in the market.” This technology, it added, is also “safe to operate and has minimal environmental impact during construction and operation.”

ACEN planned to acquire P2-billion worth of additional shares in BCHC. It signed a subscription agreement with BCHC for the purchase of 3,015,000 common shares and 16,985,000 redeemable preferred shares.

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