ACEN: paving the way for a renewable future

ACEN, the energy platform of the esteemed Ayala Group, has proven its mettle by overcoming numerous challenges in 2022 and emerging with a strong start to the new year. Fueled by a remarkable growth in generation output, the company is now reaping the rewards of its investments in renewable energy. Under the capable leadership of President and CEO Eric Francia, ACEN is well on its way to achieving its ambitious goal of reaching 20 GW of renewables by 2030.

The first quarter of 2023 brought excellent news for ACEN as it reported a staggering five-fold increase in net income, soaring to an impressive P2 billion. With approximately 4,200 MW of capacity from owned facilities across the Philippines, Australia, Vietnam, Indonesia, and India, ACEN boasts an enviable renewable energy share of 98%, setting a high standard in the region.

On May 4, AC EN proudly announced a 23% rise in consolidated revenues for the first quarter, reaching P9.1 billion. This growth was primarily driven by enhanced net generation, courtesy of improved wind resources and the successful commissioning of new power plants in the Philippines and Australia. ACEN’s commitment to expanding its renewable energy initiatives has yielded significant results.

While transitioning to a modest net selling merchant position, ACEN faced increased borrowing and overhead costs due to the accelerated expansion of its renewable energy projects. Nevertheless, the company’s consolidated income experienced a remarkable five-fold growth compared to the previous year, reaching P2.0 billion in the first quarter. This demonstrates ACEN’s ability to adapt and thrive in a changing market landscape.

The attributable earnings before interest, taxes, depreciation, and amortization ( EBITDA) also showcased an impressive 76% increase, amounting to P4.6 billion in the first quarter of 2023. Notably, ACEN’s Philippine operations contributed P1.9 billion to EBITDA, marking a remarkable 188% yearon-year growth, while international EBITDA rose by 38% to P2.8 billion. These figures highlight ACEN’s strong performance on both domestic and global fronts.

In addition to its financial success, ACEN has been actively pursuing strategic partnerships to further its renewable energy endeavors. The collaboration with BrightNight, a US-based company, opens doors for renewable projects in India, while the acquisition of eight operational wind projects in Texas from PivotGen signals ACEN’s entry into the thriving