ACEN Corp. said Tuesday that it was setting aside more than P80 billion for capital expenditures (capex) this year, markedly higher than the P55-billion-plus allocated in 2025.
President and CEO Eric Francia said bulk would be used mostly for energy projects in the Philippines.
“Our capex this year is more than P80 billion. Around P60 billion of that will be for the Philippine market and for our... solar and wind plants, and battery energy storage systems,” Francia said.
The ACEN CEO expressed confidence that 2026 would be better for the company due to additional renewable energy capacity and completed plant repairs.
“With regard to financials, I think we will be higher this year compared to last year. What’s driving that is because we are adding around 1 gigawatt of capacity in our portfolio, which will take us to around 5 gigawatts,” he said.
“Moreover, our wind farms, which went down due to typhoons, are also coming back online. That is also another factor. Lastly, our contracting of electricity is also increasing as well and will also contribute to our financials,” Francia said.
Projects expected to come online include a 300-megawatt (MW) solar plant scheduled to become operational in the second half along with 200 MW of battery energy storage capacity in Australia and some projects in India.
In the first nine months of 2025, the Ayala-led renewable energy company posted a net income of P1.79 billion, down 78 percent from P8.14 billion in 2024, largely due to the effect of nonrecurring items.
ACEN shares on Tuesday slipped by P0.12 to close at P2.94 apiece.
