ACEN Corp. said Monday that it had executed loan agreements with two business units for the development of ongoing projects.

The Ayala Group's listed energy platform said in a disclosure that it had borrowed P436,636,582 million from the wholly-owned unit Giga Ace 3 Inc. to optimize its cash management system.

ACEN also acted as guarantor for San Carlos Solar Energy Inc. (Sacasol), and executed a guarantee agreement with BDO Unibank, Inc. for a loan of P1.4 billion.

Sacasol owns and operates a 45-megawatt (MW) solar photovoltaic power plant in San Carlos, Negros Occidental.

ACEN Corp.'s share price was unchanged at P4.90 each on Monday.