ACEN just released a disclosure that its 210 MW India Solar Farm started operations today.

This joint venture is between ACEN and UPC Solar Asia Pacific also known as UPC-AC Energy Solar that its two solar farms in India the 140 MWp (100 MWac) Sitara Solar and 70 MWp (50 MWac) Paryapt Solar started its operations

The price action of ACEN stayed above 9 pesos and closed at the 8.95 pesos support level for the second day.

It also stated I its disclosure

“In July 2020, UPC-AC Energy Solar announced the commencement of construction of Sitara Solar located in the Jodhpur District of the State of Rajasthan, a desert state with the highest irradiation in India, that will supply energy to the Solar Energy Corporation of India. This was followed closely by the start of construction of Paryapt Solar, a solar farm set in the Amreli District of the State of Gujarat, one of the first states to develop solar generation capacity in the country”

“The development of the solar facilities involved an investment of around US$100 million. With an aggregate capacity of 210 MWp, the solar farms are comprised of more than 466,000 solar panels which are capable to produce around 358 GWh annually, or an estimated 323,990 metric tonnes of CO2e avoided”

ACEN closed with a net foreign buying of 98Million. Foreigners still accumulating on the company after its news of inclusion in the PSE market. You can check the link Blue chip Index link to view the other companies included here

After its drop in prices due to its removal from the Blue chip index, DMCI holdings is up by 4.01% yesterday.

This is after disclosures came out on the back of its positive earnings for the quarter and first half of 2021. The sharp uptrend was due to the exceptional rebound of its subsidiaries, Semirara Mining and Power Corporation (SMPC), DMCI Homes and DMCI Mining.

“Coal and nickel prices were rallying while our production was ramping up so our Q2 was even better than our Q1. Revenue recognition in our real estate business also improved on higher productivity,” said DMCI Holdings chairman and president Isidro A. Consunji.

Contribution Breakdown

SMPC contributed P3.7 billion, a near threefold increase from P1.3 billion owing to its all-time high coal production in the first quarter, all-time high shipments in the second quarter and strong rebound in coal and electricity spot prices.

Contributions from DMCI Homes soared 6,018 percent from P38 million to P2.3 billion on higher construction accomplishments and recognition of down payment from new accounts.

DMCI Mining accounted for P818 million, a 345-percent improvement from P184 million on the back of higher production, average grade and shipment amid a booming nickel market.

Affiliate Maynilad posted a 15-percent decline in contributions from P847 million to P718 million as quarantine measures led to a 3-percent drop in billed volume.

D.M. Consunji, Inc. contributed P484 million, 426 percent higher compared to P92 million last year owing to higher construction accomplishments and minimal coronavirus-related expenses.

Contributions from DMCI Power grew 5 percent from P256 million to P270million because of higher electricity sales to Masbate and Palawan.

Income from parent and others recovered by 132 percent from a net loss of P57 million to a net income of P18 million on the absence of expenses related to the COVID-19 pandemic.

Net foreign selling however is ensuing for the past few days. Today there is a net foreign selling of -76.99Million

Price closed at 5.70 pesos