General Announcement::ACEN enters partnership to repower wind farms in the US

Issuer & Securities

Issuer/ Manager
AC ENERGY FINANCE INTERNATIONAL LIMITED
Securities
AC ENER FINUS$110M5.25%N290212 - XS1946107007 - IDTB
AC ENER FINUS$225M4.75%N240129 - XS1940840132 - OEHB
AC ENER FIN US$300M5.1%N - XS2258819874 - RKIB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Apr-2022 17:43:33
Status
New
Announcement Sub Title
ACEN enters partnership to repower wind farms in the US
Announcement Reference
SG220426OTHR78BW
Submitted By (Co./ Ind. Name)
AC Energy Corporation / Irene S. Maranan
Designation
Head, Corporate Communications and Sustainability
Effective Date and Time of the event
26/04/2022 00:00:00
Description (Please provide a detailed description of the event in the box below)
April 26, 2022 - ACEN, the Ayala group's listed energy platform, announced the board approval on the company's plans to enter the United States renewable energy market through a newly formed strategic partnership with UPC Solar & Wind Investments LLC (UPC) and Pivot Power Management (PPM) to pursue opportunities to acquire operating wind projects in the US and explore strategies for extending their useful life through preventative maintenance and repowering. The transaction is subject to usual and customary conditions precedent to closing.

The new partnership will target the acquisition of operating wind projects across various geographies in the US. It will seek to upgrade and replace key components on target projects with the goal of extending project life and optimizing power generation.

ACEN has successfully deployed more than USD $200 million in each of its priority markets of Australia, Vietnam and Indonesia to date. ACEN hopes to add renewable capacity in the US to its growing portfolio as it continues to work towards its goal of 5,000 MW of capacity by 2025.



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About ACEN (Formerly AC Energy)

ACEN is the listed energy platform of the Ayala Group. The company has ~3,800 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India, and Australia. The company's renewable share of capacity is at 87%, among the highest in the region.

ACEN's aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5,000 MW of renewables capacity by 2025. In October 2021, ACEN announced its commitment to achieve net-zero greenhouse gas emissions by 2050.

www.acen.com.ph


For inquiries and more information, please contact:

Irene Maranan
Head - Corporate Communications and Sustainability
Email: maranan.is@acenergy.com.ph



DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN's plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.

Attachments

PR - ACEN enters partnership to repower wind farms in the US.pdf
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