ACEN Corp. has partnered with Norfund in investing in a company based in Myanmar that will provide solar power to telecom towers in the Philippines.
In a disclosure to the Philippine Stock Exchange yesterday, ACEN said the deal is subject to definitive documentation.
Norfund is the Norwegian Investment Fund for developing countries which has a total of $2.5 billion in total commitments as of end-2021. It is owned and funded by the Norwegian government as a tool for strengthening the private sector in developing countries.
ACEN and Norfund will invest YMP Telecom Power Inc. for an undisclosed amount.
YMP is a company based in Myanmar specializing in the installation of solar power facilities in telco towers.
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