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MANILA, Philippines – Ayala-led ACEN Corp. has injected an additional P1.147 billion into its wholly owned subsidiary to accelerate the construction of a solar park in Zambales.
Based on its regulatory filing on Thursday, the renewable energy firm said it had subscribed to 3.44 million common shares and 30.98 million redeemable preferred shares in Giga Ace 8 Inc. at P10 apiece.
READ: ACEN eyes P15.8-B energy storage system in Zambales solar park
Around 8 million redeemable preferred shares, valued at P100 each, were also included in the subscription deal.
