AC Energy Philippines Inc. (Acen) expects to complete in the next three quarters its transformation into the Ayala group’s power generation platform for both domestic and overseas projects, with planned fundraising activities intended to muster a total of $500 million to $600 million.
John Eric T. Francia, president and chief executive of Acen, said at a briefing such a kitty would help the company achieve its goal of building a portfolio of 5,000 megawatts of renewable energy capacity by 2025.
“We are confident that we will exceed the 2025 target considering that, by 2021, we expect to be at the halfway mark at 2,550 MW,” Francia said.
Acen, formerly Phinma Energy Corp., alread…
Keep on reading: Ayala energy firm banks on $500M-$600M funding to buttress portfolio