General Announcement::Update on acquisition of ACEN of portfolio of eight operating wind projects in Texas, USA

Issuer & Securities

Issuer/ Manager
ACEN FINANCE LIMITED
Securities
ACEN FIN US$400M4%N - XS2382032956 - ZDJB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
05-Jun-2023 20:50:18
Status
New
Announcement Sub Title
Update on acquisition of ACEN of portfolio of eight operating wind projects in Texas, USA
Announcement Reference
SG230605OTHRG4UF
Submitted By (Co./ Ind. Name)
ACEN CORPORATION/ Irene S. Maranan
Designation
Head, Corporate Communications and Sustainability
Description (Please provide a detailed description of the event in the box below)
On 1 June 2023, the U.S. Federal Energy Regulatory Commission (FERC) authorized the acquisition of ACEN, through its joint-venture company, UPC Power Solutions LLC (UPC Power), of a total of 136 MW of wind assets from US-based GlidePath Power Solutions LLC (GlidePath).

To recall, on 16 March 2023, UPC Power Solutions LLC signed a Purchase and Sale Agreement with GlidePath to acquire a portfolio of eight operating wind projects located in northern Texas, USA, subject to regulatory approvals including the approval of FERC.

With the FERC approval, UPC Power and GlidePath will proceed to complete the acquisition pursuant to their Purchase and Sale Agreement.

This announcement is an update to the General Announcement released on 16 March 2023, entitled, ACEN acquires portfolio of eight operating wind projects in Texas, USA.