ACEN’s P30B green bond issue gets SEC OK

The Securities and Exchange Commission (SEC) has approved a plan by ACEN Corp. to tap the green bond market to support the development of renewable energy (RE) projects.

In its September 6 meeting, the Commission en banc resolved to render effective the registration statement of ACEN covering up to P30 billion of ASEAN green bonds.

The bonds may be issued in tranches within three years, with the initial tranche consisting of up to P10 billion of green bonds due 2027.

ASEAN Green Bonds refer to bonds and sukuk which comply with the ASEAN Green Bonds Standards, where the proceeds will be exclusively applied to finance or refinance, in part or in full, new and/or existing eligible green projects.

Eligible green projects include those for renewable energy, energy efficiency, pollution prevention and control, environmentally sustainable management of living natural resources and land use, clean transportation, climate change adaptation, and green buildings.

BDO Capital and Investment Corp. and BPI Capital Corp. are the joint issue managers with RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners.

Yuchengcos build new solar power plant in Bohol

PetroGreen Energy Corp., the renewable energy arm of Yuchengco-led PetroEnergy Resources Corp. (PERC), launched its planned 27 megawatts of direct current (MWDC) Dagohoy solar power project (DSPP) in a 22-hectare site in Bohol.