ACEN extends P900-M loan for Quezon wind park

ACEN Corp. is injecting P900 million into its wind power project, seen to be the biggest such facility in the Philippines straddling the provinces of Quezon and Laguna.

In a disclosure on Thursday, the listed energy arm of the Ayala Group said it had executed a loan deal with its subsidiary Giga Ace 6 Inc. for the Quezon North Wind Power project.

Giga Ace 6 is the group’s special purpose vehicle for the development of the 553-megawatt (MW) onshore wind park.

Earlier this year, the unit had also obtained P34.4 billion from the Bank of the Philippine Islands, BDO Unibank, Inc. and Rizal Commercial Banking Corp.

A total of P70 billion of investment is needed to develop the major wind project, according to ACEN.

The company said it had also previously extended infrastructure and transmission asset support for the project’s Phases 1 and 2.

Phase 1, which is expected to be finished by late 2026, has a generating capacity of 344.5 MW. Phase 2, meanwhile, will involve 208 MW and completion is seen by the end of 2027 or early 2028.

The project is located in the towns of Mauban and Real in Quezon as well as Paete and Kalayaan in Laguna.

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With a series of renewable energy projects sprouting here and in its foreign markets, ACEN has an ambitious goal to hit 20,000 MW of capacity by 2030.

ACEN’s clean energy portfolio currently stands at 7,000 MW.

Overseas, the company has projects in Australia, Vietnam, Laos, India and Indonesia.

In the first half of 2025, the firm saw a sharp drop in its net income, reaching P763 million from P6.3 billion, blamed on a one-time loss from its Vietnam wind parks.