ACEN Corporation, a Philippines-based renewable energy developer headquartered in Makati City, has advanced financing for it's Pampanga solar project. According to ACEN Corporation, a PHP 2.587 billion(~ $46.2 million) loan was secured from Development Bank of the Philippines. The facility was executed through an Omnibus Loan and Security Agreement for Greencore Power Solutions 3, the joint-venture company owning the asset. Greencore Power Solutions 3 has been identified as the borrower, while ACEN Global Development Group, a Makati-based ACEN subsidiary, has acted as sponsor and share collateral guarantor. Citicore Solar Energy Corp., a Philippines-based solar project developer, has participated as sponsor and share collateral grantor. The 115.671 MW Arayat–Mexico solar facility is located across Arayat and Mexico municipalities in Pampanga. The loan followed ACEN’s equity subscription maintaining its 45 % stake in the joint venture.