MANILA, Philippines — AC Energy Philippines Inc. (ACEP) has invested P570 million in a 300-megawatt (MW) diesel power plant in Rizal.

In a disclosure to the Philippine Stock Exchange yesterday, ACEP said it signed a subscription agreement with Ingrid Power Holdings Inc.

Under the agreement, ACEP subscribed to 50,000 Ingrid common shares worth P4.9 million and P565.1 million worth of redeemable preferred shares.

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