Belenos Energy Corporation, a subsidiary of ACEN Corporation, has finalised an agreement with YMP Telecom Power Incorporation and YMP Industrial Power Incorporation to develop and operate solar-powered commercial and industrial solutions for telecom towers in the Philippines.
As per the agreement, ACEN Corporation will purchase 100 per cent of outstanding shares from Yoma Micro Power (S) Private Limited with the acquisition price less than 10 per cent of ACEN’s book value. Additionally, ACEN will also provide up to PHP200 million in funding for YMP Telecom’s energy efficiency (EE) and renewable energy (RE) projects.