RENEWABLE ENERGY developer ACEN Corp. is anticipated to allocate the majority of its P80-billion capital expenditure (capex) this yr to the event of its major renewable energy projects within the Philippines.
Talking to reporters on Tuesday, ACEN President and Chief Executive Officer Eric T. Francia said the budget will finance solar, wind, and battery storage projects currently in the corporate’s pipeline.
“Over 60 billion [is allocation for] the Philippines alone,” Mr. Francia said.
If realized, the P80-billion capex would surpass last yr’s actual spending of around P55 billion.
ACEN currently operates 4.3 gigawatts (GW) of renewable energy projects across its markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and america.
Mr. Francia said the corporate expects to finish the yr with greater than 5 GW of operational renewable energy capability, as around 1 GW of projects is ready to be energized this yr.
“We’ll be greater than 5 GW operational expected by end of this yr. After which we ought to be near 7 GW operational by next yr,” he said, referring to projects under construction and backed by signed agreements.
The corporate also anticipates improved performance this yr compared with 2025, supported by additional output from recently energized plants and people scheduled to return online.
“The wind farms that were impacted in late 2024 by the typhoon have been substantially restored already because the third quarter of last yr,” Mr. Francia said.
“So the plants have been stable by way of operations. That might definitely add to the quantity output.”
For the nine months ending September, ACEN posted a 78% drop in attributable net income to P1.79 billion from P8.14 billion a yr ago.
Revenues fell 18% to P23 billion from P28 billion within the previous yr, reflecting softer electricity prices and lower power generation output.
On the local bourse on Tuesday, ACEN shares fell 3.92% to shut at P2.94 apiece. — Sheldeen Joy Talavera