While everyone was focused on the ongoing COP27 in Sharm El-Sheikh, a breakthrough in energy transition financing happened in Asia on November 8 with the completion of the first-ever energy transition mechanism (ETM) by a small power plant in the Philippines that can be the model for other private sector ETM transactions.
Full completion of the world’s first market-based Energy Transition Mechanism (ETM) transaction, which will enable the early retirement of the 246 MW SLTEC coal plant and its transition to cleaner technology
New collaboration supports “rapid but careful” energy transition 04 November 2022 – Today, at the UN Climate Change Conference (COP26), Laurence Tubiana, CEO of our partner the European Climate Foundation, introduced an exciting new collaboration: the Coal Asset Transition Accelerator (CATA). We are proud to support this initiative, which aims to speed up a fair…
ACEN, the Ayala Group’s listed energy platform, approved the divestment of all its shares in its wholly owned subsidiary, South Luzon Thermal Energy Corporation (“SLTEC”), through energy transition financing. The 244 MW coal plant in Calaca, Batangas, is the only coal plant under ACEN’s portfolio. Subject to regulatory approval, the shares will be acquired by ETM Philippines Holdings, Inc. (“EPHI”) and The Insular Life Assurance Company, Ltd. (“InLife”) for an aggregate value of ₱3.7 billion.
ACEN, the Ayala group’s listed energy platform, successfully signed an Amended and Restated Omnibus Loan and Security Agreement for its wholly-owned subsidiary, South Luzon Thermal Energy Corporation (SLTEC) with Bank of Philippine Islands and Rizal Commercial Banking Corporation as lenders.
Businesses, investors, academics, civil, and social representatives collaborate to develop resources to advance social equity while meeting environmental goals.
November 4, 2021, Glasgow — Today, at the UN Climate Change Conference (COP26), RMI, Climate Smart Ventures, the Carbon Trust and the International Network of Energy Transition Think Tanks (INETT) announced the Coal Asset Transition Accelerator (CATA), a first-of-its-kind platform that will use finance to accelerate the coal transition globally. CATA comes at a crucial moment….
End of content
End of content
35F Ayala Triangle Gardens Tower 2
Paseo de Roxas cor. Makati Avenue
Makati 1226 Philippines
Tel: +(632) 7-730-6300
© Copyright 2024 ACEN. All Rights Reserved | Privacy Policy
contact
To report any illegal act, wrongdoing, malpractice, risk
to the corporation, or any violation of company policy.
whistleblower@acenrenewables.com
*All reports shall be treated in confidence and the identity of the whistleblower will be protected. The whistleblower shall be protected from all forms of retaliation.