Ayala’s energy platform seen finishing 2024 stronger

ACEN Corp., the Ayala Group’s energy arm, is seen to end 2024 on a high note with more power plants activated, its top official said.

At a recent chat with reporters, its president and CEO Eric Francia expressed confidence about the group posting “better” financial performance this year.

“More capacity online. That’s the main driver: significantly more operating capacity,” he said.

For the first nine months alone, ACEN already reported robust operating results, with its consolidated earnings growing by 24 percent to P8.14 billion.

Its core attributable earnings before interest, taxes, depreciation and amortization also stood at P14.3 billion, up 30 percent from a year ago.

ACEN said improvements in its financial status could be attributed to the expansion of its clean energy portfolio.

In the Philippine market, ACEN said clean power plants here generated 1.37 billion kilowatt-hours (kWh) from January to September, surging 78 percent compared to the same period last year.

The bulk of the output or 56 percent came from plants activated this year, such as SanMar Solar in Zambales, Pagudpud Wind and Capa Wind in Ilocos Norte, Cagayan North Solar in Cagayan and Arayat-Mexico Solar Phase 2 in Pampanga.

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For its operations abroad, ACEN said it generated 2.74 billion kWh, up 15 percent from a year ago, driven mainly by two big projects it launched this year—the New England Solar in Australia and the Masaya Solar in India.

Aside from the Philippines, ACEN is present in Australia, Vietnam, India, Indonesia, Laos and the United States.

ACEN’s global generation portfolio now stands at around 6,800 megawatts (MW). It hopes to grow this figure to 20,000 MW by 2030.

For 2025, the group is earmarking about P70 billion in capital expenditures.