ACEN completes sale of interests in three diesel power plants

This will help the company reach its goal of 100% clean power generation.

Philippines-based ACEN has completed the sale of its interests in three diesel power plant companies to AC Energy and Infrastructure Corporation (ACEIC).

In a bourse filing, the company said that it has signed the deed of absolute sale of shares with ACEIC for its ownership interests in Bulacan Power Generation Corporation, One Subic Power Generation Corporation, and CIP II Power Corporation.

The total consideration for the sale is less than 10% of ACEN’s total assets as of 31 December 2024.

“The divestment will help ACEN achieve its goal of 100% renewable energy generation by end-2025,” the company said.