In a filing with the stock exchange, ACEN said it was selling power barge 101 to Prime Strategic Holdings and power barges 102 and 103 to SPC Power Corp.

Power barge 101 is an operating power plant while power barges 102 and 103 are non-operating.

ACEN said the sale of the power barges is expected to be completed in the fourth quarter, subject to satisfaction of agreed conditions precedent, including obtaining the applicable regulatory approvals.

Last June, the company sold its minority shareholdings in three biomass-fed
power projects n the Visayas to allow it to concentrate on the expansion of its solar and wind portfolio.

ACEN is seeking to build up portfolio of 5,000 megawatts of renewable energy capacity by 2025 as part of its goal to become the largest listed RE platform in Southeast Asia.

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