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ACEN acquires 49% stake in Bangladesh solar farm
The Philippine Star
|December 13, 2024
Ayala-led ACEN Corp. has further expanded its international presence with the acquisition of a 49-percent stake in the 70-megawatt (MW) Sonagazi power project in Bangladesh.
In a disclosure to the Philippine Stock Exchange yesterday, ACEN said IBV ACEN Renewables Asia Pte. Ltd. has completed the purchase of Sonagazi Sun Holdings Pte. Ltd.'s interest in the project.
The transaction's closing was achieved after all conditions under the sale and purchase agreements had been satisfied, ACEN said.
IBV ACEN Renewables Asia is a joint venture between ACEN Renewables International Pte. Ltd. and ib Vogt (Singapore) Pte. Ltd.
This story is from the December 13, 2024 edition of The Philippine Star.
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