Ayala’s ACEN cues switch-on of more renewables
ACEN Corp. is seen booking “robust growth” come 2026 as the group aims at switching on more renewable projects here and abroad, an official said.
Jonathan Back, chief financial officer at the Ayala group’s energy subsidiary, said ACEN’s performance this year may be sluggish compared to 2024.
However, Back said this was expected in a “slightly lumpy business,” with their growth banking on capacity expansion.
“We wouldn’t expect to see such a high rate of growth at the operating [level] because we don’t have as much new capacity coming online in 2025 as we did in 2024,” he said at a recent media briefing in Makati City.
Other projects that would be fully switched on by end-2025, like the Monsoon project in Laos, would help beef up its 2026 operations, he added.
“I think we’d expect to see pretty robust growth more into [2026 and 2027] because we have good visibility on our project pipeline and new projects coming online over the next two to three years,” Back said.
ACEN earlier disclosed some of the developments slated for completion next year. These include the 300-megawatt (MW) Palauig 2 Solar; 200-MW SanMar Solar; 80-MW Solarscape & Dayasinar Solar; 68-MW Sonagazi Solar.
2024 performance
ACEN has reported a 27-percent jump in its bottom line for 2024, which hit P9.36 billion from P7.39 billion.
The group attributed the earnings growth to the commercial operations of new clean energy facilities.
The firm has been ramping up its renewable energy portfolio, with projects in the Philippines, Australia, Vietnam, India, Lao PDR and Indonesia. It currently has 7,000 MW of capacity covering operational, under construction, and committed projects.
It has an ambitious goal of reaching 20,000 MW of renewable capacity in the next few years.
To further back this, ACEN plans to raise up to P30 billion from the stock market this year via a stock rights offer.
