General Announcement::ACEN acquires portfolio of eight operating wind projects in Texas, USA

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
16-Mar-2023 18:35:07
Status
New
Announcement Sub Title
ACEN acquires portfolio of eight operating wind projects in Texas, USA
Announcement Reference
SG230316OTHRE6KL
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)
* Joint venture company acquiring a total of 136 MW of wind assets from US-based GlidePath Power Solutions LLC
* Strong growth US platform leveraging the combined expertise of ACEN and its partners: Pivot Power Management and UPC Solar & Wind Investments
* Will generate approximately 360 GWh of wind energy per year, enough to power around 24,000 households and avoid ~127,000 metric tons of CO2 emissions

16 March 2023 - ACEN, the listed energy platform of the Ayala group, through its joint-venture company, UPC Power Solutions LLC, signed a Purchase and Sale Agreement with GlidePath for the acquisition of a portfolio of eight operating wind projects located in northern Texas, USA.

The latest milestone marks ACEN's anticipated entry to the fast-growing US renewables market as it expands its geographic footprint beyond the Asia Pacific region.

Announced in April 2022, ACEN, through its subsidiary ACEN USA LLC, formed a strategic partnership with Pivot Power Management (PivotGen) and UPC Solar & Wind Investments LLC 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 partners share the same vision of building a sustainable energy future with the aim to maximize economic impact while providing environmental benefits for all stakeholders.

This sale will be subject to regulatory approvals including the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of electricity, natural gas, and oil.

Related news:
https://www.acenrenewables.com/2022/04/acen-enters-partnership-to-repower-wind-farms-in-the-us/


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About ACEN

ACEN is the listed energy platform of the Ayala Group. The company has ~4,000 MW of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 98%, which is 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 20 GW of renewables capacity by 2030. ACEN is committed to transition the company's generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.

www.acenrenewables.com


About PivotGen

PivotGen (Pivot Power Management, LLC), is a developer of wind and solar energy projects throughout the United States. With a focus on creative problem solving, PivotGen develops new energy generation projects and engineers solutions to refurbish and give new life to older projects. Our team shares a commitment to achieving a sustainable energy future and we are dedicated to maximizing economic impact and environmental benefit for our partners and the communities we work in.

https://pivotgen.com


For inquiries and more information, please contact:

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



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

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