ACEN CORP. and Citicore Solar Energy Corp.’s joint venture (JV) Greencore Power Solutions 3, Inc. has secured a P2.59-billion loan from the Development Bank of ACEN CORP. and Citicore Solar Energy Corp.’s joint venture (JV) Greencore Power Solutions 3, Inc. has secured a P2.59-billion loan from the Development Bank of

ACEN-Citicore JV secures P2.59-B loan for solar operations

2025/12/12 00:09

ACEN CORP. and Citicore Solar Energy Corp.’s joint venture (JV) Greencore Power Solutions 3, Inc. has secured a P2.59-billion loan from the Development Bank of the Philippines (DBP), aimed at supporting the Pampanga solar plant and its renewable energy operations, the companies said.

ACEN and its subsidiary ACEN Global Development Group, Inc. have signed an omnibus loan and security agreement with DBP to act as sponsor and share collateral guarantor for Greencore 3, according to a regulatory filing on Thursday. Citicore Solar will serve as sponsor and collateral grantor for the loan.

Greencore 3 operates the 115.671-megawatt Arayat-Mexico Photovoltaic Solar Power Plant in Pampanga.

The facility began full commercial operations in August 2022 and currently supplies electricity for over 19,450 households.

ACEN also plans to subscribe to additional shares in Greencore amounting to P859.11 million to help the joint venture meet its financial obligations.

The transaction involves the purchase of 2.41 million common A shares at P1 each and 41.97 million redeemable preferred A shares at P20.41 apiece.

ACEN said the subscription is part of a planned increase in Greencore 3’s authorized capital stock, pending approval by the Securities and Exchange Commission.

The Pampanga solar plant is part of ACEN’s 7.1-gigawatt renewable energy portfolio across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

The company has earmarked over P80 billion in capital expenditure for 2026 to support its renewable energy pipeline. — Sheldeen Joy Talavera

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Little Pepe soars from presale to market spotlight

Little Pepe soars from presale to market spotlight

The post Little Pepe soars from presale to market spotlight appeared on BitcoinEthereumNews.com. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Early investors often capture the biggest rewards in crypto, and Little Pepe, priced under $0.005, is emerging as a memecoin that could rival big players. Summary LILPEPE has sold over 15 billion tokens in its presale, raising $25.4 million. The project’s community has grown to more than 41,000 holders and 30,000 Telegram members. Analysts suggest the token could see gains of up to 55x in two years and 100x by 2030. Crypto enthusiasts are aware that early investors tend to benefit the most from the market. Ripple (XRP) and Solana (SOL) are popular tokens that have profited traders. Little Pepe (LILPEPE), valued at less than $0.005, might produce more profit. LILPEPE is swiftly gaining popularity despite its recent introduction. Little Pepe: The market-changing memecoin Little Pepe has surprised everyone with its quick surge in cryptocurrencies. LILPEPE is becoming a popular meme currency. Its presale price is below $0.003. Strong foundations, a distinct market presence, and a developing and enthusiastic community distinguish it from other meme tokens. Many meme currencies use hype to attract investors, but LILPEPE’s rarity, community support, and distinctive roadmap have effectively drawn them in. Currently in its 13th presale stage, more than 15 billion tokens have been sold, generating over $25.4 million and sparking considerable interest. As the token approaches official listing, enthusiasm is growing, and many people believe it could be one of the following major memecoin success stories. LILPEPE’s growing community drives growth The strong community surrounding LILPEPE is a primary reason for its success. LILPEPE has built a loyal following of over 41,000 holders and about 30,000 active members on Telegram. Its rise is being fueled by this. The support of its community…
Share
BitcoinEthereumNews2025/09/19 15:12