ACEN subsidiaries give up 2 solar power contracts

ACEN Corp., the listed energy arm of the Ayala Group, has moved to abandon two service contracts involving solar power projects in Quezon province and Zambales amid land issues.

In a regulatory filing on Monday, the renewable energy producer said its subsidiaries have surrendered Solar Energy Operating Contracts No. 2024-08-938 and No. 2021-05-582.

The 2024 service contract, led by Abagat Energy Corp., covered the planned 336-megawatt (MW) Pagbilao solar facility in Quezon province.

However, the firm has decided to no longer pursue it due to “significant land acquisition challenges affecting the project site … ”

The 2021 contract, meanwhile, was secured by SolarAce2 Energy Corp. The proposed 120-MW solar asset in Botolan, Zambales likewise faced “site access constraints,” prompting SolarAce2 to relinquish the contract.

ACEN maintained that these developments have no impact on its operations.

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“These projects are still in the early stages of development, have not reached a final investment decision, and neither subsidiary has commenced any commercial operations,” the group said.

At present, ACEN has 7,500 MW of attributable renewable energy capacity from its projects that are already operational, under construction and with signed agreements.

With about P80 billion in capital expenditures for 2026, ACEN is not slowing down on its expansion here and abroad.