ACEN Corp has successfully shifted 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 manner,” ACEN President and CEO Eric T. Francia said in a media release.
ACEN's renewable energy portfolio now totals 7 gigawatts (GW) of capacity, including operational projects, projects under construction and projects supported by signed agreements.
The company manages assets in the Philippines, Australia, Vietnam, India, Indonesia, Laos and the United States.
The company said its diverse portfolio includes 4,634 megawatts (MW) of solar, 1,957 MW of wind, 115 MW of geothermal and 304 MW of battery energy storage.
It says, “Recognizing the increasing urgency of climate change and the long-term risks associated with carbon-intensive assets, ACEN took a deliberate step towards renewable energy.”
“The company reshaped its strategy, redirected capital, and built the capabilities needed to scale clean energy in 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 transition completely to renewable energy. 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 for 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. These shares represent 1.3% of ENEX Energy's total outstanding shares and will finance its operations.
ACEN plans to allocate more than P80 billion in capital expenditures next year to finance large-scale renewable energy projects locally and abroad.
The company reported consolidated net income of P1.8 billion for the first nine months of 2025, down 78% from a year earlier due to non-recurring items, while revenue fell 18% to P23 billion, hit by lower spot market prices and lower production in the Philippines and Australia.
In the local market on Monday, ACEN shares fell two centavos or 0.73% to close at P2.72, while ENEX Energy shares fell eight centavos or 2.34% to close at P3.34. , Ashley Erica O. jose