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Joint venture AC Energy Corporation (ACEN) and AMI Renewables

AC Energy Corporation (ACEN), an Ayala-led company and AMI Renewables their Vietnamese firm-partner is piloting the installation of battery energy storage system (BESS), as a coupling technology that shall be integrated in their 50-megawatt solar farm project in Khanh Hoa province. Price closed by 10% for the day as the market digest the disclosure.

AMI AC Renewables, joint venture of the ACEN and AMI has been awarded a US$2,962,000 grant by the U.S. Consulate General in Ho Chi Minh City, the company said in the announcement to the stock exchange. The two signed today to formalize a US$2,962,000 grant from the latter to develop the project.

Patrice Clausse, Chief Operating Officer of AC Energy International cum and Chairman of the AMI AC Renewables Board of Directors said, “Energy storage is the key to unlock the potential of renewables and is a vital component of the energy transition,”

“We are very excited about the opportunities that lie ahead in harnessing this enabling technology, and together with AMI, we will aim to secure Vietnam’s renewable energy sources while helping the country achieve its sustainability goals.” she added. Intergrating the 15 MWh/7.5 MW Khanh Hoa Energy Storage pilot utility-scale battery energy storage system (BESS) and will soon take shape in Khanh Hoa Province.

“Our solar plant in Khanh Hoa province is an ideal place to demonstrate how energy storage can help Vietnam reach its full renewable energy potential,” said AMI AC Renewables CEO Nguyen Nam Thang.

Marie C. Damour, Chargé d’Affaires ad interim said, “We are pleased to support Vietnam’s efforts to expand renewable energy generation, and reduce reliance on coal, This project aims to show how cutting-edge U.S. energy storage technology can advance these goals, and catalyze Vietnam’s transition to a clean energy economy for a climate-resilient future.”

AC Energy said the joint venture currently has 80 MWp of solar capacity in operation and is constructing one of the biggest wind farms in Vietnam.

ACEN price bounced back after the market digested the above disclosure with a 10% gain for the day with a 91.28Million net foreign buying. Price closed at 11.88.

MREIT REVENUES LEAP 6% in First QUARTER OF OPERATIONS

Velric Market News,REIT No Comments

5 Things to Know About the IPO of MREIT, Megaworld's REIT

In a disclosure MREIT (Megaworld REIT) stated that the REIT company of the largest country office landlord (Mega world), has recorded higher revenues with 6% to P711.2-million during the end quarter of September 2021. The back-rental income is calculated up to P583.7-million otherwise 5% is higher than the aim set in REIT Plan. In first full quarter concludes that MREIT’s operations required (10) prime. Mega World is grade A office assets in this year of June.

MREIT is ready to declare dividends within this month of October accordance with its REIT plan. The company is finding reasons into declaring dividends of at lest P0.24 per share. Subject are necessary to regulate approvals and board.

Kevin L. Tan, President and CEO, MREIT, Inc stated that

“This is just the initial tranche of dividends that we intend to declare for the current fiscal year 2022. Considering MREIT’s strong performance to date, as well as our improved outlook on office demand and the infusion of additional assets, we are confident of our ability to meet, if not surpass, our dividend projection for the year as indicated in our REIT plan. We thank all our investors for the trust and confidence to MREIT,”

MREIT earlier released a statement that it’s plan to double the portfolio size by 2024, and also to reach 1-miilion square meters in floor size by 2030. In next year, around 100,000 sqm. Of prime office assets will be introduce into MREIT. It also announced its plan to inject more assets from Uptown Bonifacio in BGC aside from the assets coming form Eastwood City, McKinley Hill, and Iloilo Business Park, Stated by Leechiu Properties in June. BGC still one of the highest rental rates among to others business districts in the country

MREIT aspires to be one of, if not, the largest office REIT in Southeast Asia on the strength of the company’s long runway for growth backed by Megaworld’s extensive office portfolio.

Joint venture AC Energy Corporation (ACEN) and AMI Renewables

MREIT REVENUES LEAP 6% in First QUARTER OF OPERATIONS

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