ACEN shifts RE strategy, reshuffles leadership

MANILA, Philippines — ACEN Corp. of the Zobel family has relinquished nearly five gigawatts of renewable energy service contracts as it shifts its focus to project execution, appointing its COO Roman Miguel de Jesus to lead its Philippine operations in its next phase of growth.

The move covers at least 12 solar and wind projects in the early stages of development, involving 11 ACEN subsidiaries that opted to scrap their respective project plans.

Among the largest wind projects affected are Giga Ace 7 Inc.’s 1,024-megawatt Calatagan Offshore Wind, Gigawind5 Inc.’s 1,248-MW Manila Bay Wind, Gigasol4 Inc.’s 420-MW East Ecija Wind and Gigawind2 Inc.’s Zambales North Wind.

On the solar front, the cancelled projects include Adlao Energy Corp.’s 823-MW Masinloc Solar, AC Subic Solar Inc.’s 300-MW Rizal Solar, Ingrid4 Power Corp.’s 233.64-MW Dasol 1 Solar and AC Laguna Solar Inc.’s 200-MW AC Laguna Floating Solar.

The decision reflects ACEN’s strategic shift away from aggressive expansion toward a more selective approach to new power investments while prioritizing the development of energy storage systems.

“This means being more selective in allocating capital and resources, prioritizing projects that we are best positioned to execute successfully while allowing other developers to pursue opportunities that we are not taking forward,” ACEN president and CEO Eric Francia said.

ACEN said the portfolio rationalization has no material impact on its operations.

“Renewable energy remains a compelling long-term opportunity, both in the Philippines and across our markets,” Francia said.

“We remain committed to investing in the energy transition, with greater emphasis on delivering our existing commitments and pursuing opportunities where we can create the greatest value.”

De Jesus, who has served as COO since 2025, will assume the role of president and CEO of ACEN Philippines effective Jan. 1, 2027.

He previously led the establishment of ACEN’s retail electricity business in 2016 and has since held various leadership positions across the company’s operations and development units.

Francia will remain president and CEO of listed company ACEN, which has realigned its organizational structure to strengthen its focus on project execution and operational performance.

As part of the leadership reshuffle, Ma. Cecilia Cruzabra has been appointed group chief financial officer, while Theodore Ivan Paris will serve as group treasurer.

ACEN has also named new chief executives for its other business units. Patrice Clausse will head ACEN Investments, overseeing the group’s international investments and operations in India, while Jose Maria Zabaleta will lead ACEN Australia.