ACEN completes full transition to renewable energy

ACEN CORP. has successfully transitioned its entire generation portfolio to renewable energy, the Ayala-led energy company said on Monday.

“This milestone reflects our long-term strategy to align ACEN with the future of the energy system, while supporting decarbonization in a commercially disciplined way,” ACEN President and Chief Executive Officer Eric T. Francia said in a media release.

ACEN’s renewable energy portfolio now totals 7 gigawatts (GW) of attributable capacity, including operational projects, those under construction, and projects backed by signed agreements.

The company manages assets across the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

The company said its diversified portfolio includes 4,634 megawatts (MW) of solar, 1,957 MW of wind, 115 MW of geothermal, and 304 MW of battery energy storage.

“Recognizing the growing urgency of climate change and the long-term risks associated with carbon-intensive assets, ACEN made a deliberate pivot toward renewable energy,” it said.

“The company reshaped its strategy, redirected capital, and built the capabilities needed to scale clean energy across multiple markets — while taking measured steps to reduce and ultimately exit coal.”

In September, ACEN completed the divestment of its diesel power assets, part of its plan to fully transition to renewables. The company aims to achieve net zero greenhouse gas emissions by 2050.

In a separate regulatory filing on Monday, ACEN said it is increasing its stake in ENEX Energy Corp. by subscribing to 17.40 million preferred shares at P1 each, totaling P17.40 million.

ENEX Energy, a unit of ACEN, focuses on crude oil and natural gas exploration. The shares represent 1.3% of ENEX Energy’s total outstanding shares and will fund its operations.

ACEN plans to allocate over P80 billion in capital expenditures next year to fund large-scale renewable energy projects both locally and abroad.

The company reported a consolidated net income of P1.8 billion for the first nine months of 2025, down 78% from a year ago due to non-recurring items, while revenues fell 18% to P23 billion, affected by lower spot market prices and reduced output in the Philippines and Australia.

At the local bourse on Monday, ACEN shares fell two centavos, or 0.73%, to close at P2.72 apiece, while ENEX Energy shares closed eight centavos, or 2.34%, lower at P3.34 each. — Ashley Erika O. Jose