AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations. In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance […]AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations. In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance […]

ACEN inks P859-M share subscription in JV

2025/12/11 00:05

AYALA-LED ACEN Corp. is subscribing to P859.11 million worth of new shares in its joint venture (JV) firm Greencore Power Solutions 3, Inc. to help settle the latter’s project-related obligations.

In a disclosure on Wednesday, ACEN said Greencore 3 signed a subscription agreement with the company to partly settle an earlier loan used to finance the 115.671-megawatt (MW) Arayat-Mexico Photovoltaic Solar Power Plant in Arayat and Mexico, Pampanga.

The subscription covers 2.41 million common A shares at P1 each and 41.97 million redeemable preferred shares A at P20.41 apiece.

ACEN said the transaction forms part of the planned increase in Greencore 3’s authorized capital stock, pending approval by the Securities and Exchange Commission.

The company is subscribing to a portion of the increase consistent with its 45% stake in the joint venture.

The capital infusion supports Greencore 3’s obligations for the P2.75-billion solar project, which began full commercial operations in August 2022 and can supply enough power for about 19,450 homes.

The Pampanga solar plant forms part of ACEN’s 7.1-gigawatt renewable energy portfolio across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

ACEN has allocated over P80 billion in capital expenditure to support its renewable energy pipeline. — Sheldeen Joy Talavera

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MoneyGram launches stablecoin-powered app in Colombia

MoneyGram launches stablecoin-powered app in Colombia

The post MoneyGram launches stablecoin-powered app in Colombia appeared on BitcoinEthereumNews.com. MoneyGram has launched a new mobile application in Colombia that uses USD-pegged stablecoins to modernize cross-border remittances. According to an announcement on Wednesday, the app allows customers to receive money instantly into a US dollar balance backed by Circle’s USDC stablecoin, which can be stored, spent, or cashed out through MoneyGram’s global retail network. The rollout is designed to address the volatility of local currencies, particularly the Colombian peso. Built on the Stellar blockchain and supported by wallet infrastructure provider Crossmint, the app marks MoneyGram’s most significant move yet to integrate stablecoins into consumer-facing services. Colombia was selected as the first market due to its heavy reliance on inbound remittances—families in the country receive more than 22 times the amount they send abroad, according to Statista. The announcement said future expansions will target other remittance-heavy markets. MoneyGram, which has nearly 500,000 retail locations globally, has experimented with blockchain rails since partnering with the Stellar Development Foundation in 2021. It has since built cash on and off ramps for stablecoins, developed APIs for crypto integration, and incorporated stablecoins into its internal settlement processes. “This launch is the first step toward a world where every person, everywhere, has access to dollar stablecoins,” CEO Anthony Soohoo stated. The company emphasized compliance, citing decades of regulatory experience, though stablecoin oversight remains fluid. The US Congress passed the GENIUS Act earlier this year, establishing a framework for stablecoin regulation, which MoneyGram has pointed to as providing clearer guardrails. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/moneygram-stablecoin-app-colombia
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BitcoinEthereumNews2025/09/18 07:04