ACEN Corp. has acquired shares from Sungrow Power Renewables Corp. (SPRC) worth P114 million that will result in owning a company that is developing a 60-megawatt (MW) solar power plant in Pangasinan. Know more:
ACEN Corp. has acquired shares from Sungrow Power Renewables Corp. worth P114 million that will result in owning a company that is developing a 60-megawatt solar power plant in Pangasinan.
The shares are worth P285 apiece for a total of P114 million. ACEN will immediately pay 70 percent of the amount and the balance will be released to SPRC subject to submission of remaining conditions on or before June 30, 2023. The issuance of the shares is subject to regulatory approvals from the Securities and Exchange Commission on the increase in authorized capital stock of SPPC.
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