ACEN Corp. on Tuesday said that it had executed a short-term loan agreement with a wholly-owned subsidiary, Giga Ace 6 Inc., for the construction of a wind power project.
In a disclosure, ACEN said the agreement for a loan of up to P3 billion was signed on May 4.
The Ayala-led energy firm earlier also inked a short-term loan agreement for P900 million with Giga Ace 6, which acts as the special purpose vehicle for the 344.5-megawatt Quezon North Onshore Wind Power Project.
ACEN's share price rose by 22 centavos to close at P3.00 apiece on Tuesday.
ED PAOLO SALTING
