ACEN signs a purchase agreement for the sale of 2 barges to SPC Power
AC Energy (ACEN) has signed an asset purchase agreement for the sale of its two electric barges (PBs) to Cebu-based SPC Power Corporation.
In a statement to the Philippine Stock Exchange on Thursday morning, ACEN said the sale of the PB 102 and 103 is expected to be finalized in the fourth quarter, subject to regulatory approvals and compliance with agreed conditions.
The two diesel barges have a capacity of 32 megawatts each, with four eight megawatt generators, but are not operational. PB 102 is located in Lapuz, Iloilo City, while PB 103 is currently in Lapu-Lapu City, Cebu.
The PB 102 and 103 are among the three barges that AC Energy sells as part of its plan to focus on renewable energies. The PB 101 was sold to Prime Strategic Holdings, Inc, headed by Enrique Razon. All three barges were previously owned by Phima Energy, which Ayala purchased in 2019.