ACEN Corp., the energy arm of the Ayala Group, is actively exploring capital raising options to fuel its ambitious renewable energy expansion, targeting over 8,000 megawatts of capacity by year-end.
At the company's annual stockholders' meeting in Makati City, President and CEO Eric Francia announced that ACEN is evaluating various fundraising avenues to secure fresh capital for developing new clean power assets. Francia indicated that these activities could materialize within the next six to twelve months.
"Timing and structure will ultimately depend on prevailing market conditions," Francia stated. "We continue to closely monitor external factors, including geopolitical developments in the Middle East, inflation trends, interest rate movements and overall capital market sentiment."
While a previously considered stock rights offering of P30 billion remains a possibility, Francia did not specify the exact amount the company aims to raise. He emphasized that ACEN is taking a measured approach, saying the firm was "in no rush" but expects to finalize its capital strategy within the year.
The capital raising initiative supports ACEN's planned P80 billion investment for 2026, a significant increase from the P55 billion spent in 2025. Approximately 75% of this year's investment will bolster the company's Philippine operations, with multiple solar and wind projects in development. ACEN also plans to expand its battery energy storage systems to complement its growing solar portfolio.
Francia expressed confidence in the company's expansion timeline, noting, "I believe that we should be on track to get to eight-plus gigawatts by the end of the year. That would add around a gigawatt [1,000 MW] plus of new capacity—not operational, but we expect to be starting the construction of new capacity around the region."
Beyond the Philippines, ACEN maintains operations across the Asia-Pacific region, including Australia, Vietnam, Lao PDR, Indonesia and India. The company recently reported a challenging 2025, with net income dropping 60% to P3.8 billion from P9.36 billion the previous year, attributed to lower power prices and temporary shutdowns of some Northern Luzon wind assets. Revenues also declined by 14% to P32 billion.