ACEN Corporation Completes Sale of Diesel Power Plant Stakes to Parent Firm

Strategic Insights -

As part of its efforts to fully transition to renewable energy, ACEN Corporation has finalized the sale of its ownership stakes in three diesel power plant companies to its parent firm, AC Energy and Infrastructure Corporation (ACEIC). The transaction involves the direct sale of shares in Bulacan Power Generation Corporation, One Subic Power Generation Corporation, and CIP II Power Corporation, with payment made in cash. The divestment is expected to help ACEN achieve its goal of 100% renewable energy generation by the end of 2025.

Key Takeaways:

  • ACEN Corporation has completed the sale of its ownership stakes in three diesel power plant companies to its parent firm, AC Energy and Infrastructure Corporation (ACEIC), as part of its plan to shift fully to renewable energy.
  • The transaction involves the direct sale of shares in Bulacan Power Generation Corporation, One Subic Power Generation Corporation, and CIP II Power Corporation.
  • The total deal value is less than 10% of ACEN's total assets as of December 31, 2024.
  • The divestment is expected to help ACEN achieve its goal of 100% renewable energy generation by the end of 2025.
  • The company's board approved the sale earlier on 08 August 2025.
  • The transaction was completed on 29 August 2025.
  • ACEN Corporation signed the deed of absolute sale with ACEIC on 29 August 2025.
  • The companies involved in the sale include Bulacan Power Generation Corporation, One Subic Power Generation Corporation, and CIP II Power Corporation.
  • Each of the companies has a different capacity: Bulacan Power Generation Corporation owns a 52-megawatt bunker-C fired plant, One Subic Power Generation Corporation is the lessee of a 116-megawatt bunker-C plant, and CIP II Power Corporation owns a 21-megawatt bunker-C plant.

Statistics:

  • Total deal value is less than 10% of ACEN's total assets as of December 31, 2024.
  • Total capacity of the sold power plants: 189 megawatts.
  • Number of companies involved in the sale: 3.
  • Date of board approval for the sale: 08 August 2025.
  • Date of completion of the transaction: 29 August 2025.
  • Number of outstanding shares sold: 100%.

Sources:

  • ACEN Corporation, disclosure to the Philippine Stock Exchange, 29 August 2025.
  • ACEN Corporation, deed of absolute sale with ACEIC, 29 August 2025.