ACEN Corp. has infused more funds into its Quezon North wind power project through business unit Giga Ace 6 Inc.
In a filing on Tuesday, ACEN said it invested in the first and second phases of this facility, formerly the Isla wind power project, to cover supporting infrastructure, transmission, and connection assets.
The amounts were not disclosed.
The renewable energy firm said the infusion modified a disclosure in Sept. 4, 2023, where it said that it would invest in an onshore wind power project with a capacity of around 335 megawatts in the provinces of Laguna and Quezon.
Giga Ace 6 Inc. is a special purpose vehicle created for the proposed project.
ACEN recently acquired a 100-percent stake in another business unit, Belenos Energy Corp., which holds the firm’s investments in YMP Telecom and YMP Industrial Inc., acquired from Yoma Micro Power (S) Pte. Ltd.
ACEN’s share price fell by 10 centavos to close at P5.29 on Tuesday.
