ACEN Corporation commits $148.4m to Giga Ace 8

It subscribed to more shares of Giga Ace 8 to fund its solar project.

ACEN Corporation entered a subscription contract with its wholly-owned subsidiary Giga Ace 8, Inc., with a total subscription price of around $148.4m (PHP8.7b).

In a disclosure, ACEN said the subscription will be used by Giga Ace 8 for additional funding for its proposed 300.011 megawatt-peak/235 MW alternating current Palauig Solar 2 Project.

The company subscribed to nearly 321.9 million shares, representing 53.22% of the Giga Ace 8’s total outstanding shares.

ACEN will initially pay a subscription price of around $37.1m (PHP2b).

$1 = PHP58.61

ACEN

Can't Login? Sign up for an account

Email address The email address is not made public. It will only be used if you need to be contacted about your account or for opted-in notifications.

Password

Confirm password

Provide a password for the new account in both fields.

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Already have an Asian Power account? Login

Can't log in?

Return to login

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit