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ACEN Corp. said Monday it acted as guarantor to the P1.4-billion loan of subsidiary San Carlos Solar Energy Inc. .
ACEN said in a disclosure to the stock exchange it executed a guarantee agreement in favor of lender BDO Unibank Inc. for SACASOL’s loan. ACEN said the advances to be made to the Giga Ace 3 is part of the group’s cash management optimization. The company is looking at overall spending of $15 billion to realize its 20-gigawatt target by 2030.
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