ACEN Corporation’s US$ 32.9 million loan to support next phase of San Marcelino Solar Project
ACEN Corporation has signed a PHP 1.92 billion (US$ 32.9 million) loan agreement with its subsidiary, Santa Cruz Solar Energy Incorporation, to support the third phase of the San Marcelino Solar Project in Zambales in the Philippines.
The development of renewable energy (RE) projects in the Philippines by the ACEN Group is handled by Santa Cruz Solar, a special-purpose vehicle. The San Marcelino project, which has been supplying electricity to the Luzon grid since January 2024 with a 385 MW capacity, has had its first phases completed by ACEN. After phase 3 is finished, the project should have a 585 MW overall capacity.
Country updates
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July 18, 2024
Approval sought for 250 MW floating solar in Philippines
NKS Solar One has requested regulatory approval to build and operate a PHP 1.62 billion (US$27.6 million) 250 MW floating solar array near Manila and to connect it to the national grid in the Philippi...
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February 08, 2024
MoU signed for the joint development of 50 MW Onshore wind farm in the Philippines
Basic Energy Corp. signed a memorandum of understanding (MOU) with Japan’s Renova Inc. for the joint development of the 50-megawatt Mabini wind project in Mabini, Batangas, in the Philippin...
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February 07, 2024
Green lane certificate awarded for 463.9 MWac floating solar PV project in Nueva Ecija
the Philippine Board of Investments (BOI) granted the green lane certificate for the 463.995 MWac floating solar power project in Nueva Ecija province, north of Manila, the Philippines. The...
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January 30, 2024
65 MW solar project secures government permit in Philippines
The Philippine government has given the green light to an up to 65-MW solar project proposed by local developer Burgos Pangasinan Solar Energy Corp in Burgos municipality, in the coastal province of P...
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January 04, 2024
Meralco taken over SP New Energy Corp.
Meralco Powergen has completed the acquisition of a 50.5% stake in SP New Energy Corporation (SPNEC) via an investment of PHP 15.9 billion (US$ 286 million) in the Philippines. MGEN Renewable Energy,...
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