ABC Energy Inc. (ABCEI), a subsidiary of A Brown Company, Inc., has approved the sale of its 20-percent equity interest in Palm Concepcion Power Corp. (PCPC), which operates a coal-fired power plant in Western Visayas.
“The divestment will enable A Brown Group to access additional capital in support of its strategic objectives,” A Brown said in a disclosure to the Philippine Stock Exchange.
PCPC is the developer of the 270-megawatt coal-fired power plant in Concepcion, Iloilo. The plant’s first 135 MW unit was designed to address the power supply requirements of the Visayas grid and provide power to businesses and support economic development on the islands of Panay, Negros, Cebu, and Leyte.
A Brown plans to allocate the proceeds from the sale towards strengthening its core business segments, accelerating green energy initiatives, and reducing debt to enhance capital efficiency.
“Furthermore, the group will proactively pursue investment opportunities in new sectors to diversify and secure long-term revenue streams,” it said.
A Brown said the transaction is a strategic move that allows the group to unlock value from a minority, non-controlling stake and redeploy capital into high-impact opportunities that enhance long-term value creation and drive shareholder returns.
