ACEN Corp., the renewable energy unit of the Ayala Group, said Wednesday it acquired a 49-percent stake in BIM Energy Holding Corp. (BIMEH), a subsidiary
ACEN Corp., the renewable energy unit of the Ayala Group, said Wednesday it acquired a 49-percent stake in BIM Energy Holding Corp. , a subsidiary of BIM Group, one of the largest Vietnamese private conglomerates for $70.5 million.
BIMEH owns interests in Vietnam’s renewable energy assets such as Ninh Thuan Solar and Ninh Thuan Wind . ACEN recorded a 24-percent increase nine-month net income to P8.14 billion from P6.6 billion a year ago, driven by newly operational plants as its operational generation portfolio reached 3 gigawatts .
The company said new renewable energy plants, operationalized earlier in 2024, continued to contribute significantly to year-to-date growth in generation output and in turn financial performance.
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