ACEN profit soars 84% to P3.3 billion

MANILA, Philippines — ACEN Corp. kept its earnings momentum alive through the first nine months, with stronger renewable power output fueling another robust financial performance.

The Zobel family’s listed energy arm saw its consolidated net income soar by 84 percent to P3.3 billion during the period from P1.79 billion a year earlier.

The nine-month earnings haul also brought ACEN within striking distance of its full-year 2025 net income of P3.8 billion.

“ACEN continues to grow as more projects come into operation, expanding our renewable energy (RE) portfolio and generation,” ACEN president and CEO Eric Francia said.

The company’s attributable RE generation sizzled by 23 percent year-on-year to 5,950 gigawatt-hours (GWh), driven by increased output from its core markets.

In the Philippines alone, attributable RE generation rose by 13 percent to 1,502 GWh, supported by improved availability across ACEN’s northern Luzon wind portfolio.

Domestic operations also benefited from increased contracted energy volumes, the continued expansion of the retail electricity supply business and higher spot market prices.

Similarly, attributable output in Australia went up by 48 percent to 1,303 GWh on reduced grid curtailment, stronger solar irradiance at New England Solar 1 and the first full nine-month contribution from Stubbo Solar.

In India, ACEN delivered a 22-percent increase in attributable output to 672 GWh, thanks to significant contributions from its newly commissioned 153-megawatt (MW) Maharashtra hybrid project.

Across other international markets, the company ended the first three quarters with attributable generation growing by 11 percent to 874 GWh.

“As we build on this growth, our focus is increasingly on execution, operational excellence and profitability. Our priority is to realize the full potential of our platform and deliver sustainable long-term value,” Francia said.

ACEN currently has an RE portfolio totaling 7,484 MW, partly tempered by lower capacity in India following the sale of a 49-percent stake in select projects under construction.

Globally, more than half of the company’s portfolio is now operational, with roughly 81 percent of the energy sold in the first nine months contracted.