ACEN earnings down 60% on softer energy prices

Tempered power prices, paired with the temporary shutdown of some Northern Luzon wind assets, dragged down the profit of ACEN Corp. in 2025 by 60 percent.

The listed Ayala-led energy firm said its consolidated net income plunged to P3.8 billion from P9.36 billion a year ago.

Its revenues also fell by 14 percent to P32 billion against the previous P37.30 billion.

Electricity generation from its Philippine assets just slightly increased by 2 percent to 1,866 gigawatt hours (GWh). ACEN noted that it had restored the operations of “most” of the inactive wind facilities.

Domestic revenues weakened by 7 percent to P36 billion following a 28-percent decrease in spot power prices.

ACEN’s retail electricity business, meanwhile, sustained its growth momentum with contracted capacity at 482 megawatts (MW). It currently holds 57-percent market share of the government’s green energy option program.

Overseas assets boost output

Renewables generation from its facilities abroad, on the other hand, improved by 34 percent to 5,143 GWh. In Australia alone, output soared by 84 percent to 1,440 GWh as it activated the 520-MW Stubbo Solar project.

Output from India assets also went up by 7 percent to 769 GWh. Last month, ACEN completed its takeover of Unlimited Renewables Holdings B.V., subsequently securing full ownership of more than 1 GW of operating projects and under-construction assets.

Other operations in foreign markets provided 1,068 GWh of attributable generation last year.

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“ACEN faced numerous macro and sectoral headwinds in 2025, reflecting the complexities of today’s energy landscape and the long-term energy transition,” its president and CEO Eric Francia said.

“Despite these headwinds, our core business and long-term outlook remain resilient. As we look ahead, we will continue to prioritize increasing our contracted capacity and accelerating investments in energy storage, while ensuring steady, continued progress on our pipeline projects,” he added.

Francia earlier expressed confidence of regaining a stronger financial footing this 2026, as the wind farms impacted by typhoons have been “substantially restored.” Additional capacities from new projects will also support ACEN’s operations.

The company intends to spend P80 billion in 2026 to support its renewables expansion.