ACEN Corp.’s subsidiary, Belenos Energy Corp., has finalized an agreement to acquire shares in solar power providers for telecom towers and industrial facilities.
The deal includes the full acquisition of YMP Telecom Power Inc. and its affiliate, YMP Industrial Power Inc. ACEN will purchase 100 per cent of outstanding shares from Yoma Micro Power (S) Pte. Ltd., with the acquisition price being less than 10 per cent of ACEN’s book value.
The acquisition aims to develop and operate solar-powered solutions for telecom towers and commercial and industrial solar power solutions in the Philippines.
ACEN will also provide up to P200 million in funding for YMP Telecom Power Inc.’s energy efficiency and renewable energy projects.
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