/PRNewswire/ ACEN (PSE:ACEN), the energy platform of the Ayala Group, disclosed today the full divestment of the South Luzon Thermal Energy Corporation.
State-managed Government Service Insurance System (GSIS) has injected P2.2 billion investment for the early retirement of the 246-megawatt South Luzon Thermal Energy Corporation (SLTEC) coal plant via energy transition mechanism (ETM), an innovative market-based approach employed by Ayala-led ACEN C
Taking a step closer to its goal of becoming a fully renewable energy company, ACEN Corp. has fully divested from its remaining coal plant under South Luzon Thermal Energy Corp. through the world’s first energy transition mechanism or ETM.
Macay Holdings Inc., the holding company chaired by Alfredo Yao, will acquire RC Global Beverages Inc., which owns the rights to the RC Cola brand globally, allowing Macay to expand overseas.