ACEN inks $32.78m loan for clean energy unit’s solar project

The facility is located in Zambales.

The Philippines’ ACEN Corporation has signed a $32.78m (PHP1.92b) loan agreement with its subsidiary Santa Cruz Solar Energy Inc. to fund the latter’s San Marcelino Solar Project Phase 3 located in San Marcelino, Zambales.

In a bourse filing, ACEN said the funding will be used for the project’s capital expenditure requirements.

The San Marcelino Solar Project has 585 megawatts of total installed capacity, powering around 187,700 households. The target completion date for the facility is 2025.

$1 = PHP58.57