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.