AYALA-LED AC Energy Corp. (ACEN) said it has agreed to YMP Telecom Power, Inc.’s request to increase its loan to P466 million from P200 million.
In a statement on Thursday, ACEN said it had signed a request letter to amend the terms of the agreement signed in December 2023. The amendment aims to increase the total facility amount from P200 million to P466 million, it said.
The loan would fund development costs for specific energy efficiency and renewable energy projects.
Last year, ACEN said that its subsidiary Belenos Energy Corp. acquired YMP Telecom Power, Inc. and its affiliate YMP Industrial Power, Inc. by purchasing 100% of the outstanding shares held by Yoma Micro Power Pte. Ltd.
On its website, YMP describes itself as a “leading company” in Southeast Asia engaged in distributed renewable energy that encourages telecom operators and tower companies to decarbonize.
The company designs, procures, installs, and maintains solar and solar-hybrid power plants to allow telecom companies to save on diesel, YMP said.
Currently, ACEN holds around 4,700 megawatts of attributable capacity across the Philippines, Vietnam, Indonesia, India, and Australia.
At the stock exchange on Thursday, shares in the company gained one centavo or 0.2% to end at P5 apiece. — Sheldeen Joy Talavera
