Giga Ace 6, Inc., a subsidiary of ACEN Corp., has secured P900 million in short-term financing from its parent company to fund the Quezon North Wind Power Project, a 553-megawatt (MW) wind farm in Quezon province.
In a regulatory filing on Thursday, ACEN said the loan will support ongoing construction of the 335 MW Quezon North 1 phase, with total capacity expected to exceed 550 MW upon completion.
The wind farm spans the municipalities of Real and Mauban, covering prime areas for renewable energy development in the province.
In April, Giga Ace 6 also obtained a P34.4-billion green term loan facility from the Bank of the Philippine Islands, BDO Unibank, Inc., and Rizal Commercial Banking Corp.—Sheldeen Joy Talavera
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