ACEN Corp. has loaned P1 billion to its subsidiary, Giga Ace 6 Inc. to help fund the construction of its wind project.
“Please be informed that on 18 September 2026, Acen Corp., as lender, executed a short-term loan agreement with its wholly owned subsidiary, Giga Ace 6 Inc., for up to P1 billion,” the company said in its disclosure on Friday.
Giga Ace 6 is Acen’s project company for the 344.5-megawatt (MW) Quezon North Wind Power Project in Quezon province.
The company has been acting as a lender to its other subsidiaries since the beginning of September, and executed a short-term loan agreement with its wholly owned subsidiary, Giga Ace 8 for up to P3.24 billion, and Sanmar Solar Inc. for up to P6 billion to help fund the construction of its energy projects.
The loans will also cover the following projects: 300-megawatt-direct current Palauig 2 Solar, and its transmission line and substation project, located at the villages of Salaza and Bulawen in Palauig, Zambales; and the 1,000-megawatt-hour SanMar Battery Energy Storage System Project located in Barangay Santa Fe, San Marcelino, Zambales.
Acen’s Friday share price increased by P0.24 to P2.87 per share.
