ACEN completes shift to renewables

ACEN Corp. has finished its transition to 100 percent renewable energy generation across its portfolio earlier this year, keeping the Ayala group’s listed energy arm firmly on schedule in executing its long-term strategy.

“This reflects our long-term strategy to align ACEN with the future of the energy system, while supporting decarbonization in a commercially disciplined way,” ACEN president and CEO Eric Francia said Monday.

Now running entirely on renewable energy, ACEN is targeting net zero greenhouse gas emissions by 2050, in line with global climate goals. Its 2025 portfolio spans 4,634 megawatts (MW) of solar, 1,957 MW of wind, 115 MW of geothermal, and 304 MW of battery energy storage.

The company said the completed transition sets up ACEN for its next phase of growth, shifting away from rapid buildout toward delivering a just, orderly, and inclusive energy transition that generates long-term value for stakeholders.

Turnaround from a decade ago

In 2016, ACEN had 1,000 MW of installed capacity, with coal dominating its portfolio and renewable energy accounting for only around 2 percent, at a time when fossil fuels prevailed across regional power systems.

As climate risks increased and carbon-intensive assets posed growing long-term risks, ACEN revised its strategy by redirecting capital toward renewables, strengthening clean energy capabilities, and scaling projects across multiple markets while gradually exiting coal.

The strategy has expanded ACEN’s renewable energy portfolio to more than 7 gigawatts of attributable capacity from projects that are operating, under construction, or backed by signed agreements. 

The company has since emerged as one of the fastest-growing renewable energy platforms in the Asia Pacific, with the Philippines as its core and largest market.

Beyond the Philippines, ACEN has built a wider regional presence through a wholly owned platform in Australia, operations in Vietnam, India, and Lao PDR, and strategic investments in Indonesia and other markets.