ACEN sees robust growth in next 2 years

MANILA, Philippines — Ayala-led ACEN Corp. anticipates stronger earnings in 2026 and 2027, powered by a pipeline of green projects set to come online starting this year.

“I think we’d expect to see pretty robust growth… because we have good visibility on our project pipeline and new projects coming online over the next two to three years,” ACEN CFO Jonathan Back said.

The company’s income growth this year, however, would be “a little bit slower,” he said.

“We’re in a slightly lumpy business, so there’ll be years where it’s very fast growth, like last year, and then there’ll be some years where it’s flatter,” Back said.

ACEN saw its net income grow by 27 percent to P9.36 billion in 2024 from P7.4 billion in 2023, thanks to higher renewables output both here and abroad.

For the years ahead, ACEN is counting on its upcoming domestic and international projects, including the 520-megawatt Stubbo Solar in Australia and the 600-MW Monsoon Wind in Laos.

In the Philippines, the company is expanding its Palauig Solar in Zambales with an additional capacity of 300 MW and has started the construction of the 335-MW Quezon North Wind Phase 1 across Laguna and Quezon.

“We have 1.2 gigawatts of renewable energy projects with signed agreements expected to reach financial close within the next 12 to 18 months,” ACEN chairman Cezar Consing said.

This project pipeline, he said, supports the company’s growth trajectory and reaffirms its commitment to driving energy transition in the region.

Despite global headwinds, Consing said ACEN still sees “robust momentum” in key markets such as the Philippines, Australia and India.

As previously disclosed, ACEN is looking to raise up to P30 billion via stock rights offering to beef up its growth and expansion.

ACEN president and CEO Eric Francia said the proceeds of the fundraising activity would be used to bankroll the company’s projects and finance its maturing obligations.

This is aligned with ACEN’s ambitious goal of expanding its attributable renewables capacity to 20 GW by 2030.