ACEN Corporation has set aside Php 70 billion in capital expenditures (capex) for 2025 to accelerate its growth and expand its renewable energy portfolio.

In a report by Philippine Star, ACEN’s president and CEO Eric Francia said the company had allocated Php 72 billion for 2024 but has utilized only around 69% of the budget.

Francia added that the firm is anticipating around Php 50 billion in capex across all geographies for fiscal year 2024. 

He highlighted that seven assets with a combined capacity of 1.2 GW are expected to become operational in 2025.

Among these are the 520-megawatt Stubbo Solar in Australia, the 146-MW Monsoon Wind in Laos, the 109-MW Stockyard Wind in the U.S., and a 123-MW hybrid solar-wind project in India.

In the Philippines, ACEN plans to activate a 60-MW solar facility in Pangasinan, the 160-MW Pagudpud Wind, and the 57-MW Capa Wind in Ilocos Norte.

Additionally, this year, the company inaugurated multiple solar and wind farms across Zambales, Ilocos Norte, Cagayan, and Pampanga.

Meanwhile, internationally, ACEN switched on the 720-MW New England Solar in Australia and the 420-MW Masaya Solar in India.

The additional output from these projects boosted the company’s earnings from January to September, with attributable net income rising 24% to Php 8.14 billion from Php 6.6 billion in the same period last year.

The surge in earnings was driven by a 31% year-on-year increase in renewable energy output, which totaled 4,127 GW hours.

ACEN currently has a global generation portfolio of 6.8 gigawatts (GW), which includes operational, under-construction, and committed projects.

ACEN aims to scale up its attributable renewable energy capacity to 20 GW by 2030 as part of its growth strategy.