ACEN to pursue solar projects in Taiwan
MANILA -A subsidiary of Ayala-led ACEN Corp. has partnered with a Singapore-based company to develop solar projects in Taiwan as it broadens its international footprint to reach its renewable energy expansion target.
In a stock exchange disclosure on Friday, ACEN said its renewable energy unit, ACEN Renewables International Pte. Ltd. (ACRI), had signed a shareholders agreement with Silverwolf Capital Ltd. for the project through a joint venture platform called ACEN-Silverwolf Pte. Ltd.
According to ACEN, the listed energy platform of the Ayala group, ACRI will invest around $2 million as working capital for the project. ACEN will have a 50-percent ownership stake.