RENEWABLE ENERGY developer ACEN Corp. said it prolonged a short-term loan of as much as P3 billion to its subsidiary Giga Ace 6, Inc. to fund the event of the 344.5-megawatt (MW) Quezon North Wind Power Project.
In a stock exchange disclosure on Tuesday, the corporate said it executed a short-term loan agreement with the unit, which serves because the project company for the wind farm.
The project, situated within the municipalities of Real and Mauban in Quezon province, represents the primary phase of a bigger wind development targeted for completion by 2027. A second phase with a capability of 208 MW can also be underway.
ACEN had earlier prolonged P900 million to Giga Ace 6 in October 2025 to support the project’s development.
The Quezon wind farm is among the many projects ACEN goals to finish next 12 months, alongside other renewable energy developments, including the third phase of its solar farm in San Marcelino, Zambales.
The corporate has earmarked around P80 billion in capital expenditures to fund its major renewable energy projects within the Philippines.
In 2025, ACEN reported a net income of P3.8 billion, down 60% from the previous 12 months as a result of weaker electricity prices, lower solar irradiation in key sites, and reduced generation from offline wind assets in Northern Luzon.
“As we scale, execution becomes much more critical. Our ability to deliver projects reliably — on time, on budget, and safely — will define the strength and sustainability of our growth,” ACEN President and Chief Executive Officer Eric T. Francia said during a recent annual stockholders’ meeting.
ACEN currently has about 7 gigawatts of attributable renewable energy capability across operational, under-construction, and committed projects, with a presence within the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the USA. — Sheldeen Joy Talavera