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ACEN — Project Sale to Special Purpose Vehicle
This case study examines the managed phaseout of the South Luzon Thermal Energy Corporation (SLTEC) coal plant in the Philippines. In 2022, ACEN Corporation sold its equity in the plant to a special purpose vehicle (SPV), reducing the plant's operating life by 25 years to a retirement date of 2040. The transaction utilized a structure based on the Asian Development Bank's energy transition mechanism to lower the cost of capital and facilitate ACEN's transition toward 100% renewable energy by 2025.
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Document type: Case study
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