ACEN starts year strong, profit soars by 50%

MANILA, Philippines —  ACEN Corp. of the Zobel family kicked off the year on a strong note, with earnings soaring by 50 percent in the first quarter on higher renewable energy (RE) output in the Philippines and abroad.

The country’s largest RE retailer saw its attributable net income jump to P2.9 billion in the first three months from P1.9 billion a year earlier.

Revenues jumped by 42 percent to P11.03 billion from P7.77 billion following the commercial operations of new international power plants and the recovery of wind assets in the Philippines.

Amid the growing interest in renewables due to the Middle East war, ACEN’s total attributable RE output heated up by 32 percent year-on-year to 2,230 gigawatt-hours (GWh).

“The current geopolitical crisis has only reinforced our core belief that energy security and the renewables transition are inseparable. This volatility creates both urgency and opportunity,” ACEN president and CEO Eric Francia said.

In the Philippines alone, RE generation grew by 29 percent to 636 GWh as the company’s wind farms in Ilocos Norte returned to near-full operation.

The continued improvement of ACEN’s retail electricity supply business further propelled its domestic operations.

For the third straight year, ACEN emerged as the leading player in the government’s green energy option program, accounting for about 65 percent of the market in 2025.

“Looking ahead, our priorities remain clear: maximizing output from operating assets, maintaining momentum across our construction pipeline and managing costs with discipline,” ACEN group chief finance officer and chief strategy officer Jonathan Back said.

The company is on track to reach more than eight GW of RE capacity by year-end from the current seven GW.

For 2026, ACEN has programmed over P80 billion for capital spending, with the bulk earmarked for the Philippine expansion.

“Our capital program remains intact, our pipeline continues to advance, and our focus on execution will help ensure delivery of long-term, sustainable returns for our shareholders,” Francia said.