ACEN earnings surge 411% in H1

MANILA, Philippines — ACEN Corp. of the Zobel family saw earnings surge more than fivefold in the first half on the back of robust renewable energy output in the Philippines and abroad.

The company delivered an attributable net income of P3.9 billion during the period, marking a 411-percent growth from P763 million a year earlier.

Revenues jumped by 47 percent to P23.13 billion from P15.72 billion, thanks to continued expansion of the retail electricity supply (RES) business and contributions from newly operational assets.

“ACEN’s performance in the first half of 2026 underscores our recovery from the challenges of the previous year while reflecting the company’s transition into a phase of measured growth,” ACEN president and CEO Eric Francia said.

“Amid a continually uncertain environment, our priorities remain clear — protecting our balance sheet, growing our contracted energy sales and expanding our energy storage asset base,” Francia added.

The company’s attributable renewables portfolio reached 7,517 megawatts following the groundbreaking of 1,660 MW-hours of battery energy storage projects in the Philippines.

From January to June, the Philippine portfolio recorded a 17-percent growth in power generation to 1,091 gigawatt-hours (GWh) as ACEN’s Ilocos Norte wind farms resumed operations.

The country’s largest renewable power retailer also expanded its retail market customer base, with its RES portfolio growing to 587 MW by the end of June.

Higher spot market prices, coupled with stronger electricity demand, further supported ACEN’s first-half performance.

Outside the Philippines, ACEN also delivered strong results across its other core markets, particularly in Australia, where it generated 862 GWh of renewable power.

In India, attributable output remained steady at 476 GWh, supported by contributions from the newly commissioned 153-MW Maharashtra hybrid project.

Renewable power output across ACEN’s other international markets, meanwhile, climbed by 69 percent to 196 GWh.

“The growing global emphasis on indigenous renewable energy presents significant opportunities for ACEN,” ACEN CFO and chief strategy officer Jonathan Back said.

“We intend to benefit from this growth while maintaining a prudent, financially disciplined path forward, including continued focus on cost management across all our businesses,” he added.